Understand How CBE Annual and CBE Quarterly Works With Ricardo Tosto

he deadline for the mandatory annual declaration of Brazilian Capitals Abroad (CBE ANNUAL) was last April 5. However, the quarterly statements should still be made in the course of 2017. The ANNUAL CBE
The founding partner of the law firm Leite, Tosto e Barros, lawyer Ricardo Tosto, reports that the annual declaration is mandatory for individuals or legal entities resident, domiciled or headquartered in Brazil, and that are owners of assets of any nature – such as the participation in the capital of companies, fixed-income securities, stocks, deposits, real estate, among others – abroad that total an amount equal to or greater than the equivalent of US $ 100,000.00 (one hundred thousand US dollars) on the last day of each year.

The CBE QUARTERLY

The CBE Quarterly statements, on the base dates of March 31, June 30 and September 30 of each year, must be performed by individuals or legal entities, as well as in the annual CBE, also a resident, domiciled or headquartered in Brazil. A country, holders of assets of any nature abroad – however, totalling an amount equal to or greater than the equivalent of US $ 100,000,000.00 (one hundred million US dollars).

The deadline for delivery for the base date of March 31 ended at 6:00 pm on June 5. The delivery of the statement regarding the base date of June 30, will be open between July 31 and September 6 at 6:00 pm. Finally, the statement regarding the base date of September 30, will have delivery deadline between October 31 and December 6 at 6:00 pm.It is worth remembering that there is no specific CBE statement for the fourth quarter of the year, notes the founding partner of Leite, Tosto, and Barros, Ricardo Tosto.

In case of loss of term

According to the Central Bank of Brazil (BACEN), those who miss the deadlines stipulated for the delivery of CBEs, both annual and quarterly, as well as those who made the delivery with error or vice, incomplete or with false information will be subject to suffer the application of a fine by the institution, which can reach the value of up to R $ 250,000, warns the lawyer Ricardo Tosto.

What to declare?

Ricardo Tosto explains that according to BACEN Resolution 3,854 / 2010, art. 3, the following modalities of assets held outside the country must be declared to the Central Bank of Brazil: 1) deposit in current accounts abroad; 2) currency loan; 3) financing (export of goods and/or services, etc.); 4) financial leasing and leasing; 5) direct investment (participation in the capital of companies abroad); 6) portfolio investments; 7) application of financial derivatives; and 8) other investments, including real estate in Brazilian Law and other assets.

Form of delivery

The declarations should be made online, through the CBE declaration form, which is available on the website of the Brazilian Central Bank on the Internet at www.bcb.gov.br, ends Ricardo Tosto, Leite, Tosto e Barros.