Repatriation of Assets Located Overseas
Did you know? The federal government has published Law no. 13,254 and Normative Instruction 1,627, creating the Special Regime for Foreign Exchange and Tax Regularization (RERCT). With it, if you’ve ever sent assets abroad and/or have ever lawfully received undeclared or misdeclared assets, you now have a unique opportunity to come into compliance with the Federal Revenue Department and declare your assets, without being penalized as described by law.
And the best part is that Confidence Exchange simplifies the process of Repatriation of Assets Located Overseas for you.
To join the program, you need to present a Declaration of Foreign Exchange and Tax Regularization (DERCAT) and pay the taxes as required by law.
The last day to join the RERCT is 10/31/2016.
How it Works
Several procedures are required to join the RERCT, such as gather documents representing your existing resources, assets or rights until 12/31/2014, pay the taxes involved, receive SWIFT payments from abroad1, and alter the Declaration of Income Tax and the Annual Report on Brazilian Funds Located Overseas.
It seems time consuming and laborious, but you don’t have to worry, since Confidence Exchange will simplify every step of the process, making sure that the values are credited to your account, and that your responsibilities with the Brazilian Federal Revenue Office (SRF) are fulfilled, as quick and safe as you need them to be.
Would you like to know more about the service of Repatriation of Assets Located Overseas? Fill in the fields above or get in touch with our Commercial Department: +55 11 3614 1123 or firstname.lastname@example.org
1 SWIFT is an international system of messages between banks created by the Society for Worldwide Interbank Financial Telecommunication, and according to regulations, it is necessary for values above USD 100,000.00 held abroad up until 12/31/2014.
Our SWIFT code is BKCOBRSP. Click here to access our standard message format.Read more