The CBE Annual is a mandatory declaration that needs to be filed for the entities or individuals who holds foreign assets. The last date for submission of declaration of annual CBE is 5th April. However, apart from annual CBE, there is also the need to submit quarterly CBE. It is essential to make a quarterly statement to stay compliant as per the government’s legislation. As per the guideline formed by the Central Bank of Brazil, if the quarterly statement is not made, if the report contains any errors, or are not submitted on time, a penalty of up to $250,000 can be imposed.Ricardo Tosto, one of the most respected and successful lawyer and the founding director of Milk, Tosto, and Barros, said in an interview that it is essential that people file their CBEs on time.
Ricardo Tosto stated that the statement could be uploaded online at the government’s portal and the declaration should be duly filled as per the format is given on the site. Primarily, there are two types of CBEs, which are quarterly CBE and Annual CBE. Ricardo Tosto is one of the leading lawyers in the country and has done his studies in law from the reputed Mackenzie Presbyterian University.He is one of the founding directors of Milk, Tosto, and Barros Law Firm, which is one of the most renowned law firms in the country. Ricardo Tosto has represented many leading public figures, political personalities, multi-national corporations, and premier organizations in the country.
Ricardo Tosto is considered an authority lawyer in the field of compliance law, corporate law, taxation law, finance law, risk management, mergers and acquisitions, and more. Ricardo Tosto started his law firm from a small office but quickly managed to jump the ladder of success to make his law firm one of the biggest in the country.He is the member of the Brazilian Bar Association and the International Bar Association. Ricardo Tosto continues to update himself with any amendments in the country’s legislation so that he can provide reliable and accurate legal counsel to his clients. Over the years, Ricardo Tosto has fought many challenging cases successfully, and many of his cases have become the benchmark in the field of law in Brazil.