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Brazil: Updated user guide, reporting transactions with foreign persons

Brazil: Updated user guide, reporting transactions

The tax authority (Receita Federal do Brasil) together with Brazil’s Commerce agency (Comércio e Serviços do Ministério da Indústria, Comércio e Serviços) released the 12th edition of a computerized manual for the sale and acquisition of an integrated foreign trade system with respect to transactions involving services, intangibles, and other transactions that result in a change in equity.

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The computerized system is referred to in Brazil as “Siscoserv.”

The manual is used with respect to recording information about transactions between Brazilian residents or persons domiciled in Brazil and foreign domiciled residents or entities. Accordingly, the manual serves as a user guide about recording information in Siscoserve.

The registration of transactions in Siscoserv is required by Brazilian and persons domiciled in Brazil who conduct transactions concerning the sale of services, intangibles and other transactions that result in changes to the assets of entities that are residents or domiciled abroad, among which are export and import services.
 

Read a March 2019 report (Portuguese) prepared by the KPMG member firm in Brazil

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