Beginning on January, 2018 individuals or legal entities in Brazil must report monthly the cash amounts received, when equal or exceeding BRL 30,000.00.
The information should be sent through the electronic form “DME” (Declaration of Operations settled by cash). The form is available at the Brazilian IRS website. The DME is provided at the Normative Instruction RFB 1761 that was published this week.
The deadline for the declaration term is the first working day of the following month of receipt of the values, otherwise there is a penalty of 3% of the operation amount.
Operations in foreign currencies also need to be declared with the amount in BRL currency.
This Declaration will not be applied to Financial Institutions and the ones authorized to operate by the Brazilian Central Bank.