The Senate approves deadline’s reopening for regularization of non-declared Brazilian capital locate
The Senate has approved on March 14th, 2017 the bill of law which grants to the contributors a new chance to regularize non-declared assets located abroad.
The “new repatriation” shall have as bases the assets’ situation on June 30th, 2016, when dollar’s exchange rate was 3,2098. The total rate shall be 35,25%, considering tax rate of 15% and fine of 20,25%.
The payment of the mentioned tax and fine guarantee the Penal Amnesty to the crimes listed by the law, the same way it has happened in the prior regularization.
Politicians and politicians’ relatives until second grade remain prohibited to adhere to the regularization.
This is a new possibility of regularization to the ones who have not adhered to the first normative, as well as for everyone who has performed irregular operations in the period between January 1st, 2015 and June 30th, 2016.
The contributors who have adhered to the regularization in the first round will be able to complement the information by means of a new declaration, obeying the new rates and deadlines.
The wording of the bill of law shall follow to the presidential sanction and after that the Federal Revenue shall regulate the new program, which shall have a 120 days deadline to adhere after the mentioned regulation.
The CoRe Team is available to assist you with any questions related to this matter.