Brazil:
Deadline To Update The Economic-Financial Information With The Central Bank Of Brazil Ends On March 31, 2020
20 February 2020
Koury Lopes Advogados
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Brazilian companies that receive direct foreign investment in
their capital in any amount must update their corporate and net
equity information with the Central Bank of Brazil
("BACEN"), until March 31,
2020.
The required updates comprise:
- provide the detailed Economic-Financial Report with respect to
December 31, 2019 base-date, if the company has assets or net
equity in an amount equal to or greater than BRL 250 million;
or
- update information regarding their net equity and corporate
share capital allocation with BACEN as of December 31, 2019, in all
other cases.
Penalties
Failure to register, late registration of required information
with the Central Bank of Brazil, or providing false, incomplete or
incorrect information, may subject the Brazilian company to
penalties imposed by the Central Bank of Brazil, in accordance with
the provisions of Resolution No. 3,857/2017, of the National
Monetary Council.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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