Regulatory Alerts2020-07-21 | Carta Circular 4071Circular Letter No. 4071 - Creates and Alters Accounting Items in the National Financial System Accounting Plan for Tax Credit Recording and CGPE Operations
The Central Bank of Brazil issued Circular Letter No. 4071 to create specific accounting sub-items for recording tax credits under Provisional Measure No. 992 and for tracking credit operations under the Corporate Working Capital Preservation Program (CGPE). The regulation also modifies the function and nomenclature of the Presumed Credit account under Law 12.838/2013 and excludes obsolete tax credit sub-items related to Circular 2.746, requiring the reclassification of existing balances. These accounting changes apply to documents prepared from the August 2020 reference date and entered into force on August 1, 2020.
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