Reopening of the Repatriation

Law No. 13,428, of March 30, 2017, reopened the deadline for joining the Special Exchange and Tax Regularization Regime (RERCT). The special regime covers the regularization of goods or rights of lawful origin, undeclared or incorrectly declared, sent, kept abroad or repatriated by residents or domiciled in the country. The reopening of the regularization regime was regulated by Normative Instruction RFB No. 1,704/2017 , published today, establishing July 31, 2017 as the deadline for submitting the application for membership by taxpayers. The previous legislation was amended, highlighting the increase in the foreseen fine from 15% to 20.25% of the income tax to be paid, whose rate was maintained at 15% (total cost of 35.25%).