Brazil: Legislation for implementation of CRS | KPMG | GLOBAL
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Brazil: Legislation for implementation of CRS

Brazil: Legislation for implementation of CRS

The final version of Normative Instruction (RFB nº 1,680/2016, released 29 December 2016) provides guidance regarding the implementation of the common reporting standard (CRS) in Brazil.


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There are no notable differences between the draft version as provided for public consultation and the final version. However, the Federal Revenue of Brazil (RFB) extended the first reporting deadline for information related to the first semester of FY 2017 to February of FY 2018. Thus, Brazilian reporting financial institutions may report the information related to the first semester of FY 2017 with the information related to the second semester of FY 2017.

The e-Financeira—the instrument used to transmit information in Brazil under the Foreign Account Tax Compliance Act (FATCA)—is also the instrument used to transit information under the CRS in Brazil.


Read a January 2017 report [PDF 66 KB] prepared by the KPMG member firm in Brazil

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