The Special Regime for Regularization of Currency and Tax Assets (RERCT-General) and the new real estate value updating rule are in effect.
RERCT-General allows voluntary regularization of undeclared assets of lawful origin, whether in Brazil or abroad, with a 90-day deadline for adherence. Assets will be taxed at 15% income tax plus a 100% fine, and adherence extinguishes criminal liability related to the assets.
The real estate updating rule allows adjusting market value for tax purposes, with rates of 4% for individuals and 6% income tax and 4% social contribution on net profit (CSLL) for legal entities, proportionally taxed according to the time until the property is sold.
Contact GVBG | Gentil Monteiro, Vicentini, Beringhs e Gil Advogados to clarify any doubts.
