Federal Revenue Service brings corporate registration procedures up to date

New regulation is the main source for procedures related to the corporate taxpayer registry

On December 6, The Brazilian Federal Revenue Service (RFB) published Normative Instruction No. 2119/2022, which revises the procedures related to the National Registry of Legal Entities (“Cadastro Nacional de Pessoas Jurídicas” - CNPJ), the registration system in which all companies in Brazil must be enrolled upon incorporation.

According to the agency, the new amendments aim to cut red tape and simplify procedures, forming part of the efforts undertaken to improve the Brazilian business environment.

In addition to being more straightforward in the way it displays information for the fulfillment of obligations, the new regulation also addresses important aspects, such as:

• Relief from ancillary obligations for taxpayers who requested temporary suspension of their business activities, as filing declarations of tax claims stemming from taxable events that took place after the ratification will not be required.
• Special legal treatment for startups and innovative companies;
• Acknowledgement of recent corporate developments, such as the extinction of the limited liability proprietorship (Eireli) business model, which was replaced by the single-member limited liability company;
• Regulation of virtual business places;
• New framework for final beneficiaries.

The changes reflect the improvements and developments brought forth by the “Redesim” (National Network for the Simplification of Business Registration and Compliance), a project aimed at streamlining procedures for setting up companies and reducing the amount of time and cost that it takes for them to operate in good standing.

Business compliance

The Paralegal department at Domingues e Pinho Contadores assists domestic and multinational companies in the procedures related to the registration of legal entities, as well as in other processes pertaining to business compliance. You can rely on our support: dpc@dpc.com.br.