Opening and maintenance of the Societada Limited (LTDA) in Brazil

If you open a company and a bank account, the company is not inactive by law in Brazil. Bank Account will ultimately oblige the company to have an ECD-Sped (i.e. electronic book and accountancy registrations) and deliver the following Tax Returns:-

1. Annual Tax returns

a) Income tax returns
b) Withholding tax returns
c) ECD-Sped returns
d) Rais – Social Information
e) Central bank returns

2. Monthly Tax Returns

b) E-social
d) EFD-Reinf
e) EFD-Contribuições (company with no revenue can be released)
f) Local/ Regional tax returns (from state or municipality)

In Brazil, the tax year runs with the calendar year, beginning on January 1 and ending on December 31. The services regarding delivery of the Tax Return and Bookkeeping are always done by an accountant of the professional team and trust.  Hence, there is a monthly fee for the same even in a non-operational phase.

Further, in most of the cases, when hiring a Local Representative (LR) and Administrator in Brazil, the accountant of their team and trust is included who then finally deals with all the documentation process with the authorities as well as with the various bankers at the time of the corporate bank account opening procedures etc.