Global Tax Alert | 23 July 2013

Brazil's Central Bank announces annual census of foreign capital

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The Central Bank of Brazil has announced a new “Foreign Capital Census,” (Census) which is aimed at collecting information on foreign investment in Brazil. The census is the result of Circular No. 3,602/2012, which created the “Annual Census of Foreign Capital in Brazil.”

Who must file the report

Corporate entities, including investment funds headquartered in Brazil, must file this report if, by 31 December 2012,1 the entities:

(i) Had any amount of direct foreign capital that had a net equity equal to or greater than US$100 million; and

(ii) Had a total outstanding balance of short-term trade credits (enforceable within 360 days) that were equal to or greater than US$10 million.

The party responsible for providing the information must retain the related documentation for five years, as from the base date (31 December 2012).

Individuals, administrative bodies of the federal, state, federal district or municipal governments, legal entities having outstanding external debt arising out of lending transactions carried out by Brazilian financial institutions, and not-for-profit entities funded by foreigners are not required to file this report.

Deadline and form of delivery

The Census information must be submitted online, on the Central Bank's website {} from 1 July 2013 at 6 p.m. (Brasilia Time) through 15 August 2013.


Resolution No. 4,104/2012 established penalties for violating the rules of the Census. Under such rules, late delivery of the declaration for the annual census and/or declaration of incorrect, incomplete or false information could result in the imposition of fines of up to R$250,000.00 depending on the nature of the infraction.


1. Rate on 31 December 2012: US$1,00 = R$2,04.

For additional information with respect to this Alert, please contact the following:

Ernst & Young Serviços Tributários S.S., São Paulo
  • Graziela Baffa
    +55 11 2573 3447
Ernst & Young Serviços Tributários S.S., Rio de Janeiro
  • Sergio Andre
    +55 21 3263 7236
Ernst & Young LLP, Brazilian Tax Desk, New York
  • Mariano Manente
    +1 212 773 2744

EYG no. CM3670