The Federal Revenue of Brazil (RFB) Normative Instruction 1801 terminated the Statement for the Use of Foreign Currency Resources from Exports Receiving (Derex), whose filing was mandatory for individuals or legal entities resident or domiciled in Brazil, maintaining foreign currency resources overseas.
The standard ratifies that those individuals and legal entities resident or domiciled in Brazil that maintain resources in foreign currency overseas are required to provide to the RFB information (i) related to funds from exports not entered in Brazil; (ii) on foreign currency simultaneous purchase and sale transactions contracted as set forth in Article 2, of Law 11371/2006 (see here); and (iii) on income earned overseas from use of resources held abroad.
The information shall be provided by specifying the investments and payments of the exporter's obligations and, in the case of payments of own obligations overseas, specifying the amounts intended to the purchase of goods or services, including rights interest and remuneration, as follows:
a) Legal entities taxed based on Simples Nacional - They should provide information by the last business day of June, for the immediately prior calendar year, using the Coleta Nacional (National Collection) system, available at RFB’s Virtual Call Center (eCAC), in a format to be established through Executive Declaratory Act (ADE) of General Coordination of Programming and Studies (Copes).
b) Legal entities not subject to Simples Nacional (taxed by Real Profit, Assumed Profit, and Arbitrated Profit) - They should provide the information in the specific block of Accounting Tax Bookkeeping (ECF), in the same period set for bookkeeping filing.
c) Individuals - They should provide the information in the Annual Individual’s Income Tax Statement (DIRPF), within the same deadline set for its filing, with information related to the resources amounts in foreign currency for to export reception from goods and services which, as of December 31 of the immediately prior calendar year, were still deposited in a financial institution overseas.
Important: For filing 2018 DIRPF (calendar year 2017), the Statement Generator Program (PGD) is prepared to receive information on the resources from goods and services exports maintained abroad. If the individual taxpayer has already filed the 2018 DIRPF without the information that should be stated in Derex, before RFB Normative Instruction 1801entering into force, he/she may settle this situation by transmitting a rectifying statement.
Failure to comply with the RFB NI 1801requirements should result in the imposition of penalties being, as follows:
a) 10% on the funds amounts held or used abroad in disagreement with the standard, with no prejudice to taxes due collection;
b) 0.5% per calendar month or fraction, on the amount corresponding to resources held or used abroad and not reported to RFB within the aforementioned deadlines, limited to 15%.
The NI also indicates that the penalties should be autonomously applied to each of the infractions, even if the occurrence of a possible competition is characterized, and, if the penalty provided for in letter "b", will be:
a) halved, where the information is provided after the deadline but before any ex officio procedure; or
b) duplicated, including limits, in case of fraud.
Important: Individuals and legal entities should keep all documents proving the operations carried out abroad regarding to origin and use of resources from exports receiving, which should be filed when a Federal Revenue Auditor requires.
Find here the full content of NI.
Domingues e Pinho Contadores has specialized team ready to assist your company.
Contact us by the e-mail firstname.lastname@example.org
Av. Rio Branco 311, 4º e 10º andar - Centro
CEP 20040-903 | Tel: +55 (21) 3231-3700
Rua do Paraíso 45, 4º andar - Paraíso
CEP 04103-000 | Tel: +55 (11) 3330-3330
Rua Teixeira de Gouveia 989, sala 302 - Centro
CEP 27910-110 | Tel: +55 (22) 2773-3318