Our partner Ana Cláudia Utumi gave an interview to Valor Econômico about the new repatriation program and the controversy over declaring and calculating Income Tax (IR).
According to the article, the regulation of Law 14.973, which reopens the Special Regime for the General Regularization of Foreign Exchange and Tax Assets (RERCT), leaves loopholes for interpretations about using the “photo” or the “film” to declare assets and calculate the 15% tax and 15% fine.
The newspaper also points out that the Declaration of Exchange and Tax Regularization (Dercat) can be sent and rectified until December 15. But there are parallel obligations such as the rectification of the income tax return for the base year 2023.
Ana recalled that, in 2016 and 2017, it was very difficult to convince foreign banks to send information about accounts via SWIFT, a system used to transfer funds, not information. “In the new legislation, there is once again an obligation to obtain confirmation of balances abroad via SWIFT,” she says.
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