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Ministry of Economy announces the End of Siscoserv

Ministry of Economy announces the End of Siscoserv

12/2/2020

 

On October 21, the Federal Revenue of Brazil (RFB) of the Ministry of Economy (ME) and the Special Secretariats of Foreign Trade and International Affairs (Secint), published the Joint Ordinance SECINT / RFB nº 22.091, revoking the non-legal rules related to the obligation to provide information in the Integrated System for Foreign Trade in Services, Intangibles and Other Operations that Produce Variations in Equity (Siscoserv).

Earlier this year, the Joint Ordinance SECINT / RFB No. 25/2020 had already been published, suspending the deadline for the realization of these registrations in the period corresponding to 07/01/2020 and 12/31/2020, due to the pandemic of the Covid-19.

With this new measure, the system will be definitively deactivated, and the obligation to register transactions between residents or domiciled in Brazil and residents or domiciled abroad that comprise services, intangibles and other operations that produce variations in the assets of individuals, legal entities and depersonalized entities.

According to the Note released by the Ministry of Economy, the initiative was driven by provisions of the Economic Freedom Law (Law No. 13.874 / 2019), especially the principles of freedom as a guarantee in the exercise of economic activities and the subsidiary and exceptional performance of the State on the exercise of economic activities.

The Tax team at L.O. Baptista remains available for further clarifications.

 

Coauthors: Amanda Cochito Boffo and Roberta Nasser Carceles

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