Foreign investment beneficiaries must observe the new rules to provide information concerning capital abroad to the Central Bank (BCB).
We hereby inform that BCB Resolution No. 278 of December 31, 2022, which regulated Law No. 14,286/21, provides for the new rules and criteria for the mandatory provision of information concerning foreign direct investment, as well as periodic quarterly, annual, and quinquennial provision of information concerning capital abroad.
Below is a summary of the new deadlines and criteria established:
SUMMARY OF THE NEW DEADLINES AND CRITERIA ESTABLISHED:
THIS YEAR:
Exempt from the periodic declaration
Companies receiving foreign direct investment with total assets of less than R$ 100 million
Annual Periodic Statement
Base date and submission deadline
12/31/2022 – 07/01/2023 a 08/15/2023
Taxable event
Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000,000.00), but less than three hundred million Brazilian Reais (BRL 300,000,000.00)
Quarterly periodic statement
Base date and submission deadline
12/31/2022 – 01/01/2023 to 03/31/2023
03/31/2023 – 04/01/2023 to 06/30/2023
06/30/2023 – 07/ 01/2023 to 09/30/2023
09/30/2023 – 10/01/2023 to 12/31/2023
Taxable event
Foreign direct investment beneficiaries with total assets equal to or greater than three hundred million Brazilian Reais (BRL 300,000,000.00)
Forecast for the following years:
Exempt from the periodic declaration
Foreign direct investment beneficiaries with total assets worth less than one hundred million Brazilian Reais (100,000,000.00) except for base years ending in zero or five. For years ending in 0 or 5, the investment beneficiary that has total assets worth less than one hundred thousand Brazilian Reais.
Five-yearly periodic declaration
Base date and submission deadline
12/31 – 01/01 to 03/31
Taxable event
Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000.00) for years ending in zero or five.
Annual Periodic Statement
Base date and submission deadline
12/31 – 01/01 to 03/31
Taxable event
Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000,000.00), but less than three hundred million Brazilian Reais (BRL 300,000,000.00)
Quarterly periodic statement
Base date and submission deadline
12/31 – 01/01 to 03/31
03/31 – 04/01 to 06/30
06/30 – 07/01 to 09/30
09/30- 10/01 to 12/31
Taxable event
Foreign direct investment beneficiaries with total assets equal to or greater than three hundred million Brazilian Reais (BRL 300,000,000.00)
|
Calendar Year 2023 |
|||
| Periodic Provision of Information concerning Capital Abroad | Base date | Deadline to submit information concerning capital abroad | Taxable event |
| Exempted | 12/31/2022 | n/a | Foreign direct investment beneficiaries with total assets worth less than one hundred million Brazilian Reais (BRL 100,000,000.00) |
| Annual | 12/31/2022 | 07/01/2023 to 08/15/2023 | Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000,000.00), but less than three hundred million Brazilian Reais (BRL 300,000,000.00) |
| Quarterly | 12/31/2022 | 01/01/2023 a 03/31/2023 | Foreign direct investment beneficiaries with total assets equal to or greater than three hundred million Brazilian Reais (BRL 300,000,000.00) |
| 03/31/2023 | 04/01/2023 to 06/30/2023 | ||
| 06/30/2023 | 07/01/2023 to 09/30/2023 | ||
| 09/30/2023 | 10/01/2023 a 12/31/2023 | ||
| Forecast for the following years (“after interim provisions”) | |||
| Periodic Provision of Information concerning Capital Abroad | Base date | Deadline to submit information concerning capital abroad | Taxable event |
| Exempted | December 31 | n/a | Foreign direct investment beneficiaries with total assets worth less than one hundred million Brazilian Reais (100,000,000.00) except for base years ending in zero or five. For years ending in 0 or 5, the investment beneficiary that has total assets worth less than one hundred thousand Brazilian Reais. |
| Quinquennial | December 31 | 01/01 a 03/31 | Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000.00)for years ending in zero or five. |
| Annual | December 31 | 01/01 a 31/03 | Foreign direct investment beneficiaries with total assets equal to or greater than one hundred million Brazilian Reais (BRL 100,000,000.00), but less than three hundred million Brazilian Reais (BRL 300,000,000.00). |
| Quarterly | December 31 | 01/01 to 03/31 | Foreign direct investment beneficiaries with total assets equal to or greater than three hundred million Brazilian Reais (BRL 300,000,000.00). |
| March 31 | 04/01 to 06/30 | ||
| June 30 | 07/01 a 09/30 | ||
| September 30 | 10/01 to 12/31 | ||
Pursuant to Article 38 of the foregoing Resolution, the quarterly provision of information concerning capital abroad must be provided by the foreign direct investment beneficiary that, on the base date of the reference quarterly provision, has total assets equal to or above three hundred million reais (BRL 300,000,000.00).
The deadline for filing the Quarterly Provision of Information concerning Capital Abroad for the 12/31/2022 base date remains unchanged, i.e., it must be filed by March 31, 2023.
PFor companies whose total assets on 12/31/2022 were less than three hundred million reais (BRL 300,000,000.00), but in an amount equal to or greater than one hundred million reais (BRL 100,000,000.00), they will need to make the annual provision of information concerning capital abroad.
As an interim provision, the annual periodic provision of information concerning capital abroad for the base date of 12/31/2022 must be filed exclusively through the Foreign Capital Census system (Censo), between July 1st and 6pm on August 15th, 2023.
Note: Net Equity is no longer considered as a criterion for making aquarterly, annual, or quinquennial periodic provision of information concerning capital abroad.
The PLBrasil Group’s Foreign Capital team is available to assist you with the registrations required by the Central Bank of Brazil through the channels below:
+55 (11) 3292-5050
nn.sp@plbrasil.com.br
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