Brasília – The Federal Revenue Service of Brazil updated regulations for the entry and exit of currency in cash from the country. The changes aim to align customs control with the modifications brought by the new Foreign Exchange and International Capital Law, which will come into effect on December 30 this year. The new legislation was published on December 30, 2021, to enter into force one year after its publication.
It deals with the Brazilian currency exchange market, Brazilian capital abroad, foreign capital in Brazil, and obtaining information from the Central Bank (BC) for official macroeconomic statistics. Like the Federal Revenue, the BC is also updating its regulations to comply with the law.
Among the main changes are the new cash inflow and outflow limit without declaration, which goes from BRL 10,000 (about USD 1.900 at the current rate) to US$10,000 or the equivalent in another currency. If travelers have an amount above this limit, they must fill in the Electronic Declaration of Travelers Goods (e-DVB). There was also the lift of control for carrying checks and traveler’s checks.
The new Exchange and International Capital Law will be No. 14.286/2021. The Federal Revenue regulated the matter in Normative Instruction nº 2.117/2022, published on November 28 in the Brazilian Official Federal Gazette, changing specific points of other Normative Instructions concerning the abovementioned subjects.
Translated by Elúsio Brasileiro
