Statement of Brazilian Capital Abroad– 2009

The period to report the Statement of Brazilian Capital Abroad to the BRAZILIAN CENTRAL BANK (DBCE) shall finish this next Friday (May, 29).

The Statement of Brazilian Capital Abroad may be presented thru an electronic system and it is main purpose is to collect statistic data in order to detect accurate information related to Brazilian Capital abroad, as well as to provide knowledge about the composition of the Brazilian amount of net debits abroad.

The DBCE shall be delivered by individuals or legal entities resident, domiciled or headquartered in Brazil, as per the tax legislation, which have assets of any kind, currency as well as property and rights held outside the Brazilian territory as of December 31, 2008, in an amount equal or exceeding US$ 100.000,00 (one hundred thousand USA dollars).

The presentation of the Statement of Income Tax to the Federal Revenue does not release the report of DBCE to the Brazilian Central Bank.

In case of incomplete, false or incorrect information, late reporting or nonreporting of the Statement shall be due penalties up to R$ 250.000,00 (two hundred and fifty thousand reais).

Should you need any further information regarding this matter, please do not hesitate to contact us.

By SAEKI ADVOGADOS Corporate Advisory