UPDATE – VDP II BRA

The law 13.428 regulating the second Voluntary Disclosure Program (RERCT) was enacted on March 30, 2017. As a result of the law the Federal Tax Authority of Brazil published the Normative Instruction 1.704 on April 3, 2017.

Leaning on the first RERCT it reopened the VDP at the date of the publishing of the Normative Instruction 1.704 and applications can be made until July 31, 2017. The total costs of the regularization are around 35% of the assets value on June 30, 2016.

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