News and deadlines for submitting Foreign Assets statement for Brazilian Central Bank and Individual Income Tax Return 2022
In brief
Brazilian taxpayers can already submit their Declaration of Foreign Assets to Brazilian Central Bank (the so called “DCBE”), which is due on April 5, 2022 (until 6pm).
The Individual Income Tax Return 2022 (calendar year 2021) shall be submitted by Brazilian tax residents by April 29, 2022.
More details
Brazilian taxpayers can already submit their Declaration of Foreign Assets to Brazilian Central Bank (the so called “DCBE”), which is due on April 5, 2022 (until 6pm).
The DCBE shall be filed by individuals or legal entities resident, domiciled or headquartered in Brazil, with foreign assets in the amount equal to or greater than: (i) USD 1,000,000.00 (one million dollars) on 12.31.2021 and (ii) USD 100,000,000.00 (hundred million dollars) on March 31st, June 30th and September 30th of each year base.
The new Manual of the DCBE was published on February 16, 2022, indicating the following questions as point of attention for individuals who own at least 10% interest in foreign companies:
- Tab “Declarant”, question “Does the company perform transactions almost exclusively with individuals or companies not resident in Brazil?”
- Tab “Assets”, list of foreign companies, question “Does the company perform transactions almost exclusively with individuals or companies resident in countries other than the selected country?”
- Economic activity of the foreign company;
- Companies controlled by the foreign company.
On February 25, 2022, the Brazilian tax authorities published the Normative Instruction 2,065/22 stablishing the procedures to file the Individual Income Tax Return 2022 (regarding calendar year 2021). Under such Normative Instruction, Brazilian tax resident individuals shall submit their tax returns by April 29, 2022.
We are available for further clarifications.
