As per the Brazilian Taxation Law, the Brazilian Capitals Abroad needs to be declared annually, and the quarterly statements need to be made as well. The deadline for the submission of the CBEs ended on 5th April, and as per the prominent lawyer, and the founding partner of Milk, Tosto, and Barros Law Firm, non-filing or filing with errors or false information may lead to a hefty fine. Ricardo Tosto said that the Brazil Capital Abroad statements could be uploaded online at the government’s portal and the declaration forms of CBE are available online.
The declaration forms come in two categories, the Annual CBE and the Quarterly CBE. The statement for CBE is mandatory for Brazilian citizens living abroad and holds foreign assets that equal to or is more than one hundred thousand dollars to up to one hundred million dollars or more. Ricardo Tosto said that the date for the CBE submission can be found online at the government’s portal and must be adhered to avoid any penalties or hassles.Ricardo Tosto is one of the most prominent lawyers in the country and started his career by working for law firms and eventually starting his law firm. He began his office in a small place, but through his hard work and determination, managed to make his law firm among the best in the country.
Today, Milk, Tosto, and Barros are considered one of the top law firms in Brazil when it comes to corporate law, finance law, risk management, mergers and acquisition, taxation law, compliance law, and more. It is one of the most successful law firms out there with an impeccable record, and over the years has fought some of the most challenging and crucial cases, which has also contributed to bringing some of the most landmark amendments in the country’s legislation.With over three decades of experience in the field of law, Ricardo Tosto understands the area of law inside out and continues to update himself with the amendments. Ricardo Tosto is the member of Brazilian Bar Association and the International Bar Association. Ricardo Tosto has studied law at Mackenzie Presbyterian University.