The guidance—Instruções Normativas nº 1.594/15 and nº 1.595/2015 (3 December 2015)—establishes the following filing deadlines for companies that are required to maintain:
As a relatively new corporate income tax e-filing requirement in Brazil, ECF brings complexities and challenges for all Brazilian taxpayers because of a requirement for consistency and its novel technical layout, data analytics, and accounting records that support the tax computation.
The ECF or “accounting tax bookkeeping” was, beginning in 2015, a new filing requirement for all information concerning the corporate income tax (IRPJ) and social contribution on net profit (CSLL) calculations. The ECF replaced the corporate income tax return (DIPJ). Therefore, ECF is a mandatory filing requirement for all Brazilian companies subject to corporate income tax.
Taxpayers could find that, in practical terms, if the ECD is filed on 31 May 2016, a company would only have one month in which to prepare and submit the ECF. Accordingly, it would be critical for those companies to anticipate what steps or actions are needed to satisfy the reporting requirements, such as the matching of accounting entries with adjustments made to taxable income.
Read a December 2015 report (Portuguese) [PDF 52 KB] prepared by the KPMG member firm in Brazil: Novos prazos para transmissão da ECD e ECF
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