Brazil issues new version of CRS regulation

On 7 August 2019, Brazil issued a press release stating that the Normative Instruction RFB nº1,905 was published in the Federal Official Gazette (Link-Portuguese).

The new release makes corrections to the RFB Normative Instruction No. 1680 (Link-Portuguese) that establishes the information to be exchanged and the due diligence procedures to be followed for the collection and appropriate classification by the reporting financial institutions in accordance with the Common Reporting Standard (“CRS”) (Link-Portuguese).

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