Quarterly CBE: upcoming submission due from July 31 to September 5

Individuals and companies that, on June 30, held assets abroad amounting to USD 100 million or the equivalent thereof in other currencies are required to file the statement

From July 31 to September 5, the upcoming quarterly statement of Brazilian Capital Abroad (CBE), which pertains to the reference date of 06/30/2023, must be filed with the Central Bank of Brazil (Bacen).

Compliance is mandatory for individuals and legal entities based or headquartered in Brazil that, on June 30 of this year, held assets abroad of any nature amounting to at least USD 100 million or the equivalent thereof in other currencies.

The purpose of the CBE is to collect data on the Brazilian economy to provide support for the enactment of economic policies and monitor the country's external vulnerability.

What information must be supplied?

As a general rule, all assets held outside Brazil must be reported, including cash, property (chattel and real estate), trade credit, ownership stake in non-resident companies, rights, crypto and other financial instruments, such as security bonds and loans overseas.

CBE calendar

The CBE statements must be filed according to the following schedule:

It should be noted that the Annual CBE is mandatory for individuals and companies that, as of the base date of December 31, held USD 1 million in assets abroad.

Penalties

Non-compliance with the submission of the CBE warrants a fine, the amount of which varies depending on the offense:

Compliance with the Central Bank

Domingues e Pinho Contadores has a team dedicated to assisting individuals and companies in complying with their Central Bank requirements. You can count on our support to remain in good standing with your reports and statements: dpc@dpc.com.br.