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Brazilian Exit Income Tax Return

What happens when Brazilian Exit Income Tax Notice is not delivered?

When do you have to deliver Brazilian Exit Income Tax Return Notice?

  Normative Instruction SRF no. 208/2002 regulates the issue of definitive exit and creates the Brazilian Exit Income Tax Return Notice (Comunicação de Saída Definitiva – CSD, in Portuguese). In these Normative Instruction, there is no prevision at any time for the communication to be optional. According to the editorial, the person who left or became a non-resident, either by definitive departure or after completing 12 months abroad must deliver the communication by the end of February of the following year for tax exit.

In our experience, however, we note that the tax authorities have been considering the Brazilian Exit Income Tax Return (Declaração de Saída Definitiva do País – DSDP, in Portuguese) to be a mandatory document, since it details the situation of assets and income at the time of tax exit. In addition, the DSDP requests the same information as the CSD.

In these terms, we consider that the CSD serves as a way for the person to be able to organize his tax exit in advance, without waiting until March or April of the following year, to be able to report the fact of had left Brazil to the Revenue Department and to the paying sources (banks, brokerage house, INSS, employers, etc.).

We did not find a fine for those who fail to submit Brazilian Exit Income Tax Return, and there is also no other type of penalty for that. But it is recommended to hand it over if the person already has determination to leave the country. This allows not only a better organization of their own businesses, but also to obtain proof that the procedure was carried out correctly, as prescribed in the Normative Instruction.

In this blog you will always find relevant and updated information about Brazilian Exit Income Tax Return and others subjects, in addition to guiding you to avoid problems with the tax authorities and other authorities. Feel free to tell us about your experience, share the content with friends who need guidance and get in touch with us via email or via WhatsApp.

You can take a look in other posts about taxation and estate planning at informations for residents abroad.

You can count on me!

With my best regards,

Vinicius Tersi

This text about Brazilian Exit Income Tax Notice was elaborated by Vinicius Tersi Advocacia, a law firm specialized in International Tax Consultancy.

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Vinicius Tersi é advogado, especialista em Direito Tributário Internacional.

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Olá, sou Vinicius Tersi, especialista em Direito Tributário Internacional.

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