12/12/2022
As of June 2021, with the legal framework for startups and innovative entrepreneurship, closed-capital companies with annual gross revenue of up to BRL 78,000,000.00 (seventy-eight million reais) were authorized to publish its corporate acts electronically through the “Central de Balanços do Sistema Público de Escrituração Digital (SPED)” (Public Digital Bookkeeping System). In addition to such publication on SPED, companies should also make the documents available on their website, pursuant to Ordinance ME No. 12,071, of October 7, 2021.
This requirement had been heavily criticized by the market since many of the companies favored by the possibility of making the electronic publication did not have a website and, therefore, could not comply with the requirement established by Ordinance ME No. 12,071.
On November 22, 2022, the Ministry of Economy issued Ordinance ME No. 10031, which amended Ordinance ME No. 12,071, removing from the normative text the requirement that said companies disclose on their own website the publications of their corporate acts carried out via SPED.
As a result of this amendment, closed-capital companies with annual gross revenues of up to BRL 78,000,000.00 (seventy-eight million reais) are authorized to publish their corporate documents via SPED without any other formality of disclosure. The aforementioned Ordinance came into effect on December 1st.
Co-authored by: Amanda Brisolla Fernandes and Gabriel Grunberg Tesler
