On July 30, the National Monetary Council (CMN) published resolutions making the obligations related to assets held abroad by residents in Brazil and opeations in deposit accounts held in the country by residents abroad more flexible.
CMN RESOLUTION 4,841 | After the amendment, the Brazilian Foreign Capital Report (CBE) must be annually provided, on the base date of December 31, when the assets and values of the taxpayer abroad, whether an individual or legal entity, sum, on that date, an amount equal to or greater than US$ 1 million or the equivalent in other currencies.
Previously, Those who hold at least US$ 100,000 in assets abroad or their equivalent.
CMN RESOLUTION 4,844 | The operations with bank funds recorded in a deposit account of individuals or legal entities resident, domiciled or headquartered abroad, with a value equal to or greater than BRL 100 thousand must be registered at Sisbacen.
Until then, the operations equal to or greater than BRL 10,000 should be recorded by the depositary bank.
The resolutions will be effective as of September 1, 2020.
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