February / 2019
Currently, individuals and legal entities resident in Brazil that hold assets abroad in an amount equal to or greater than US$100.000 (one hundred thousand dollars) are obliged to annually present the declaration of Brazilian Capitals Abroad (CBE).
The period for sending the statement began on February 15 and expires at 6:00 pm on April 5, 2019, and must be delivered in digital form, by filling the form available in the online system of the Central Bank.
The obligation occurs in relation to assets abroad verified up to December 31, 2018, and in the statement must be informed: origin, nature and characteristics of these assets.
In addition, BACEN Resolution No. 3,854 also requires a quarterly declaration of CBE for those persons who hold capital invested abroad in amounts exceeding US$ 100.000.000,00 (one hundred million dollars), in March 31, 2019, July 30, 2019 and September 30, 2019. Therefore, those that fits on this modality should present the quarterly statement of CBE, respectively in the months of April, July and October of 2019.
It is important to note that it may also be considered as Brazilian assets abroad the values of any nature, whether in currency, assets and/or rights held outside the national territory by individuals or legal entities resident, domiciled or headquartered in Brazil, according to the tax legislation.
Thus, lack of information, omission and/or the non-declaration of assets to the competent federal authority, which is the Central Bank, is considered a crime against the National Financial System, typified in article 22 of the Financial Crimes Act (Law 7.492 / 86), and, in addition to penalties in the criminal scope, the infringing part shall be subject to fines provided for in article 60 of BACEN Circular 3.857/17.
Vernalha, Di Lascio, Mesquita & Associados is at the disposal of its clients for more information on the subject.