• Fernanda Siqueira

European Union and Brazil against money laundering in companies



In the light of the anti-corruption, tax evasion and money laundering measures that Brazilian government has been taken in recent years, we highlight the new Brazilian Federal Revenue normative ruling regarding the Brazilian Corporate Taxpayer Registry (CNPJ). This ruling requires the identification of the final beneficiary of all legal entities, Brazilian and / or foreign, established in Brazil. Foreseen in 2016, the obligation was extended by normative ruling RFB 1.863 / 2018 for the deadline of June 26, 2019.

The ruling aims to ease the legal accountability of individuals for crimes committed by using companies' CNPJ. Its noncompliance subject foreign companies to specific penalties, such as:

suspension of their registration before CNPJ, which prevents them from transacting with banking establishments, manage current accounts, making financial investments and getting loans.

Such measure follows a worldwide trend, already implemented in countries such as Portugal, where the requirement of Registration (Central) of the Beneficiary is regulated by Ordinance No. 233/2018, published one year after Law 83/2017, which incorporated part of the European Parliament's Directive 2015/849 - on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.

SIAL's international exchange and capital team is providing this service to our clients and we will be glad if we could assist you and your company with the documents requested and deadlines.

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