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Opinion: Brazilian Tax Amnesty and Missed Opportunities

Opinion by Amit Ramnani

RIO DE JANEIRO, BRAZIL – I believe the current Brazilian tax amnesty is the final chance for expats and Brazilian residents to get up to date and avoid devastating fines if identified by the tax authorities (Receita Federal). I find it surprising how many expats are totally unaware of this amnesty and its implications even though it has featured regularly in national media.

The amnesty (or ‘RERCT’) provides a window until the end of July for taxpayers to regularize any undeclared overseas accounts and applies to anyone who was a tax resident in Brazil in June 2016 . . .

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