FEDERAL REVENUE CHANGES FINE RELATED TO ECF

Normative Instruction 1.821 / 18 alters the fine applied to companies taxed by presumed, arbitrated or immune / exempt profits, who fail to submit the ECF within the period established by law, or present the ECF with inaccuracies or omissions.

As of 08/31/2018, penalties for taxpayers taxed by presumed, arbitrated or immune / exempt profits will be applied as provided for in Article 12 of Law No. 8,218 / 91:

a) a fine equivalent to 0.5% of the gross revenue of the legal entity in the period to which the bookkeeping refers to those who do not meet the requirements for the presentation of records and respective files;

b) a fine equivalent to 5% of the value of the corresponding transaction, limited to 1% of the amount of gross revenue of the legal entity in the period to which the bookkeeping refers, to those who omit or incorrectly provide information regarding the records and respective files;

c) fine equivalent to 0.02% per day of delay, calculated on the gross revenue of the legal entity in the period to which the bookkeeping refers, limited to 1% of this, to those who do not meet the deadline for presenting the records and respective files.

These penalties will be reduced to 50% when the obligation is fulfilled after the deadline, but before any official procedure, or to 75%, if the obligation is fulfilled within the time limit set in the summons.