BC postpones deadline for submission of Brazilian Capitals Abroad (CBE) declaration.

BC postpones deadline for submission of Brazilian Capitals Abroad (CBE) declaration.
19/05/2020 No Comments Sem categoria JA

ECONOMIC SUPPORT MEASURES VS. COVID-19

Due to the difficulties created by the corona-virus pandemic, the Central Bank decided to postpone the delivery schedule for the declaration of Brazilian Capitals Abroad (CBE).

The annual declaration, with base date on 12/31/2019, should be submitted until 4/4 and, now, the deadline has been extended to 6/1/2020. The quarterly statement, with base date on 3/31/2020, should be submitted no later than 6/5/2020 and, now, must be submitted between 6/15 and 7/15/2020.

In the BC’s assessment, there was an impact of the pandemic on the ability of deponents to gather the necessary information regarding their assets abroad, such as, for example, the temporary closure of various public services and companies in several countries.

The declaration is mandatory for individuals or legal entities resident, domiciled or headquartered in the country, who hold, abroad, total assets equal to or greater than:

• US $ 100,000.00, or equivalent in other currencies, as of December 31 of each base year – CBE Annual.

• US $ 100,000,000.00, or equivalent in other currencies, as of March 31, June 30 and September 30 of each base year – CBE Quarterly.

About The Author
JA