The annual census of foreign capital in Brazil will start July 1st and declarations must be submitted till August 15th. Avoid penalties.
Through Normative Number 3,795 of June 16, 2016, the Central Bank of Brazil regulated the annual Census of foreign capital in Brazil.
When is it done?
The Annual Census refers to the base date of December 31 of the years not ending with zero or five (in which the Five Year Census does not occur) and the reporting period begins on July 1st and runs until 6:00 pm on August 15th.
Who should provide the annual statements to the Census?
According to the Normative in reference, must provide the declaration for the Annual Census:
I. Legal entities headquartered in the country, with the direct involvement of non-residents in their capital, in any amount, and with shareholders' equity equal to or greater than the equivalent of US$ 100 million (one hundred million United States dollars), in the respective base date;
II. Investment funds with non-resident shareholders and shareholders' equity equal to or greater than the equivalent of US $ 100 million (one hundred million United States dollars), as of the respective base date, through its directors; and
III. Legal entities headquartered in Brazil, with a total balance of short-term commercial credits (payable within 360 days) granted by non-residents equal to or greater than the equivalent of US$ 10 million (ten million United States dollars) at the respective base date.
Who is exempted from giving the census statement?
The Census declaration is not mandatory for:
I. Natural individuals;
II. Governmental bodies directly linked Federal, State, federal District and municipal management;
III. Legal entities liable for external credits onlending granted by institutions based in the Country; and
IV. Non-profit entities maintained by non-resident´s contributions.
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