Brazilian Capitals Abroad – Mandatory statement for assets above US$100 thousand.
Attention to the Obligation to Deliver the Annual Statement of Brazilian Capitals Abroad (CBE)
Tax residents in Brazil, foreigners or not, who have assets and rights, including property, deposits, foreign currency, among other assets, whose total amount is equal to or greater than US $ 100,000.00, or the equivalent in another currency at December 31st of 2016 are obligated to deliver the Statement of Brazilian Capitals Abroad.
Foreigners are considered tax residents in Brazil when they enter the country with:
- Permanent visa;
- Temporary visa based on employment contract;
- Temporary visa and stay in Brazil for more than 183 days in 12 months period.
When is the deadline for submission of the CBE?
According to the fixed calendar defined by Circular 3,624 of the Central Bank at 02.06.2013, the declaration period of CBE 2016 is from 10:00 am of February 15 to 06:00 pm of April 5, 2016.
This statement is MANDATORY. The fines for not complying with this obligation regarding the Central Bank of Brazil can reach R$ 250,000.00.
BR-Visa is structured to provide all the necessary assistance for the foreigner to comply with such fiscal obligation. For more information, please contact: firstname.lastname@example.org
SOURCE: Central Bank of Brazil, according to Circular 3,624 / 13.