The transactions to be informed, by Brazilian individuals or entities, comprise the ones related to (i) the provision (export) or purchase (import) of services, (ii) transfer or acquisition of intangible assets and (iii) any other transaction that may change the equity position of the parties involved, which are described in Decree 7,708/2012 (Brazilian Nomenclature of Services, Intangibles and Others – “NBS”) (v.g. import and export of services and transactions performed abroad through branches and controlled entities). Note that the import/export of goods and eventual services and intangibles attached to such goods, which shall be registered within the Integrated Foreign Trade System (“Siscomex”), shall not be informed under such new tax obligation.
According to IN 1,277/2012, transactions involving services and/or intangible assets shall be informed within a 30-day period, except for those performed before December 2013, which shall be informed within a 90-day period. Transactions performed abroad through branches and controlled entities shall be informed as of 2014, until the last working day of June, in relation to operations performed in the previous calendar year.
The requirements established by this new Normative Instruction are in force as from June 29th, 2012.
For more information, please contact a tax professional with KPMG in Brazil:
Marienne Coutinho, +55 11 2183-3182, firstname.lastname@example.org
Ericson Amaral, +55 11 2183-3375, email@example.com
Murilo Mello, +55 11 2183-3261, firstname.lastname@example.org
Fabiana Pereira, +55 11 2183-6571, email@example.com
Fernando R. Martins, +55 11 2183-3284, firstname.lastname@example.org
Valter Shimidu, +55 11 2183-3269, email@example.com
Roberto Haddad, +55 21 3515-9469, firstname.lastname@example.org
Julio C. de Cepeda, +55 21 3515-9133, email@example.com
Eliete Ribeiro, +55 11 2183-3288, firstname.lastname@example.org
Henrique Conti, +55 11 2183-3278, email@example.com
Evandro Tiba, +55 11 2183-1824, firstname.lastname@example.org
Ricardo Roa, +55 11 2183-6596, email@example.com