ECF 2024: What to do if your company missed the deadline or need to make adjustments?

The filing season for the ECF 2024 (Tax Accounting Bookkeeping) ended on July 31. According to the Brazilian Federal Revenue Service, a total of 1,590,473 reports for the 2023 fiscal year were submitted on time. If your company's report is not among them, or if you have already filed but need to supplement or correct information, it is important to follow specific guidelines.

With increasingly advanced data cross-checking, tax authorities can now detect inaccuracies in tax reports with remarkable speed and precision. Even a minor oversight can result in a taxpayer being flagged for irregularities.

Additionally, errors in company information can trigger audits of the individual income tax returns (IRPF) of employees, partners, and directors.

My company missed the deadline for submitting the ECF—What should I do?

The system allows late submissions for up to five years from the original deadline. Penalties for late submission vary based on the length of the delay and the company's tax regime.

I submitted the ECF with incorrect data—What are the recommendations?

Ancillary obligations that have already been filed can still be amended. However, the issue must be addressed as promptly as possible to prevent deficiency notices and other penalties imposed by tax authorities.

How can I prevent errors when filling out the ECF?

To ensure that the information in the ECF aligns with business and tax regulations, it is essential to seek a partner who is well-versed in the legislation and the technology required to identify and correct any non-conformities before submitting the report to the tax authorities.

Tax review as an ally of compliance

Achieving tax security can begin with a thorough tax review.

This process extends far beyond identifying inconsistencies in the ECF, encompassing other primary and ancillary tax obligations as well.

• See also: Tax review: how it works and what benefits it entails

Accounting and tax expertise

Domingues e Pinho Contadores brings together a skilled tax team and advanced accounting and tax intelligence software to support companies in the preparation and submission of the ECF.

Companies can also benefit from comprehensive tax reviews to assess both submitted and pending returns. Get your business’s tax routine on the right track: dpc@dpc.com.br.