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Legal Update

Brazil: Rules No. 1,594/2015 and 1,595/2015: Amendments to the rules relating to Digital Accounting Bookkeeping (ECD) and Tax Accounting Bookkeeping (ECF)

8 December 2015
Tauil & Chequer Legal Update

On December 3rd, 2015, Rules No. 1,594/2015 and 1,595/2015, which amended the rules relating to Digital Accounting Bookkeeping (ECD) and Tax Accounting Bookkeeping (ECF), were published in the Official Gazette.

In relation to the applicable deadlines, the period for the filing of ECDs was anticipated to the last business day of May and the period for filing ECFs was anticipated to the last business day of June, both of the calendar year after the year to which the returns relate. In case of termination, partial spin-off, merger or acquisition of companies, the deadline for filing the ECD was changed to the last business day of May for transactions that occurred between January and April of the same calendar year, whereas the ECF relating to these events should be filed by the last business day of June for transactions that occurred between January and May of the same calendar year.

In relation to legal entities required to file the ECD, we highlight that entities that used to be immune or exempted from maintaining their own bookkeeping and legal entities taxed on the basis of the estimated profit method that did not use the exemption to maintain their bookkeeping because they maintained a Cash Book contemplating all financial transactions have been included in the list of persons that have to file ECDs. On the other hand, inactive legal entities have been exempted from submitting ECDs.

In addition, the obligation to file ECDs for immune and exempted legal entities obligated to submit a Digital Tax Bookkeeping for Contributions (EFD-Contributions) and Special Partnerships (Sociedades em Conta de Participação) only relates to the accounting facts that occur until December 31st, 2015.

As far as the ECF is concerned, legal entities that have elected to be taxed on the basis of the estimated profit method that do not keep their bookkeeping because they keep a Cash Book with all financial transactions and whose gross revenues e in the year are greater than BRL 1,200,000.00 (one million and two thousand Brazilian Reals) – or an amount proportionate to the applicable period – will have to submit a Statement of the Cash Book from calendar year 2016 onwards.


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