• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 7/29/2013

Brazil - Tax compliance review for tax year 2012 

July 29: There is an opportunity for companies to review and correct inconsistencies with respect to information filed with the Brazilian tax authorities.

For the 2012 tax year, companies that maintain “digital accounting bookkeeping" (Escrituração Contábil Digital - ECD) and that electronically filed corporate tax returns (Declaração de Informações Econômico-Fiscais da Pessoa Jurídica - DIPJ) under the bookkeeping system referred to as Controle Fiscal Contábil de Transição (FCONT) need to review this information and amend inconsistencies with respect to documents and other reports also filed with the Brazilian tax authorities (Receita Federal do Brasil - RFB).

The RFB will be conducting tax compliance verification by cross-referencing the 2012 ECD, DIPJ, and FCONT information with other documents filed with the RFB for tax year 2012.

The period for amending information varies. For example, the corporate tax return (DIPJ) amending deadline is five years, while FCONT filed for a given year may be amended until the filing of FCONTfor the subsequent calendar year.

Read a July 2013 report (Portugese) prepared by the KPMG member firm in Brazil: Tax News: Compliance Contábil Eletrônico Complementar a Revisão da DIPJ referente ao Encerramento do Exercício Fiscal 2012

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