The deadline for submitting the Declaration of Brazilian Capital Abroad (DCBE) to the Central Bank of Brazil is April 5, 2024.
The DCBE must be sent annually to the Central Bank of Brazil by individuals or legal entities resident or headquartered in Brazil who, on December 31 of the previous year, had values, goods, rights and assets abroad equal to or greater than US$ 1 million (or its equivalent in another currency).
In addition to the annual submission obligation, the DCBE must be provided and submitted quarterly if individuals or legal entities resident or headquartered in Brazil have, on the base dates below (already considering the 2024 fiscal year), values, goods, rights and assets abroad in an amount equal to or greater than US$ 100 million (or its equivalent in another currency):
Natural or legal persons (or their guardians, as applicable) subject to the above obligation who fail to submit the DCBE, or submit it after the deadline or with incomplete or false information, are subject to fines and other sanctions.
Finally, we would like to point out that DCBEs must take into account, as of this year, the new tax rules laid down in the Offshores Law (Law 14.754/23).
BTLaw's Corporate and Capital Markets Team([email protected]) is available to assist you with further information."