The Brazilian Central Bank has created the Foreign Capital Annual Census.
According to BC´s rules, the declaration is obligatory for Brazilian Companies, which, on December, 31st, 2011:
1) had foreign capital participating in its registered capital (10% or more of voting rights) in any amount and a net worth equal to or greater than US$100 million dollars or the equivalent;
2) were debtors of short-term (due in less than 360 days) commercial credits granted by foreign creditors, where the total outstanding debt is equal to or greater than US$ 10 million dollars or the equivalent;
Credits referred to in item 2 can derive from loans, financings (including pre-export financing) and/or leasing. The concept includes commercial credits (importation of assets and services) with payment due in less than 360 days.
The Census Declaration for the 2011 base-year must be delivered between 9 a.m., July 30, 2012 and 7 p.m.,
September, 6, 2012.
Failure to deliver the Declaration, or the furnishing of incomplete or incorrect or false information makes the Company subject to a penalty from the Central Bank.
We remain at your disposal to prepare and deliver the Annual Census Declaration to the Central Bank.
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