Brazil has passed Law No. 13,254, the Repatriation Law, introducing a tax and currency exchange voluntary disclosure and amnesty program (locally known by the acronym RERCT) to stimulate the voluntary disclosure of assets, tangible and intangible, held by Brazilian tax residents (i) remitted abroad; (ii) maintained abroad; or (iii) repatriated, which, in either case, were not previously reported or, if reported, presented material errors or insufficient information to the Brazilian authorities.
