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, email@example.com
Ericson Amaral, +55 11 2183-3375, firstname.lastname@example.org
Murilo Mello, +55 11 2183-3261, email@example.com
Fabiana Pereira, +55 11 2183-6571, firstname.lastname@example.org
Fernando R. Martins, +55 11 2183-3284, email@example.com
Valter Shimidu, +55 11 2183-3269, firstname.lastname@example.org
Roberto Haddad, +55 21 3515-9469, email@example.com
Julio C. de Cepeda, +55 21 3515-9133, firstname.lastname@example.org
Eliete Ribeiro, +55 11 2183-3288, email@example.com
Henrique Conti, +55 11 2183-3278, firstname.lastname@example.org
Evandro Tiba, +55 11 2183-1824, email@example.com
Ricardo Roa, +55 11 2183-6596, firstname.lastname@example.org