Reports to comply with IN RFB 1700/2017

By producing Reports to meet IN RFB 1700/2017 with Setape, you are ensuring that the measurement of the value of your company’s assets will be done correctly and accurately.

Who needs to make a report to comply with IN RFB 1700/2017?

When a company acquires a stake in another entity, it has an obligation to issue a report showing the equity value of the acquired entity, the gain or loss on the net assets of that entity and the goodwill or negative goodwill determined on the transaction. This report must be made available to the Federal Revenue of Brazil (RFB), under the terms of Normative Instruction 1700.

What is the legal basis for the re-port to comply with IN RFB 1700/2017?

The legal basis is Chapter XXXVII – Investments in Associates and Subsidiaries of Normative Instruction 1700 of the Federal Revenue of Brazil, of March 14, 2017, which was edited by RFB to replace Normative Instruction IN RFB 1.515 / 2014.

What is the deadline for submission of the report to meet IN RFB 1700/2017?

The taxpayer has the term until the last business day of the 13th month following the date of acquisition of the participation.

What should the report contain to comply with IN RFB 1700/2017?

IN RFB 1700/2017 is silent on the content of the report when it is filed with the RFB, but, for the case where it is registered with the Registry of Titles and Documents, paragraph 7 of article 178 prescribes that it must contain at least the following information:

  • Qualification of the acquirer, alienator and acquired;
  • Date of acquisition;
  • Percentage acquired of voting and total capital;
  • Main reasons and description of the transaction, including potential voting rights;
  • Breakdown and fair value of the items that make up the total consideration transferred;
  • Individualized list of identifiable assets acquired and liabilities assumed with the respective book values and fair values; and
  • Identification and signature of the independent expert and the person responsible for the acquirer.

How is the report prepared to comply with IN RFB 1700/2017?

The report content requirements prescribed in paragraph 7 of article 178 are more specific and detailed than the requirements of the standard dealing with the subject, CPC 15 [R1]. However, the content of the two reports is, in essence, the same.

Setape’s practice has been to prepare a single report that serves both purposes, taking care to meet the detailed requirements of paragraph 7 of article 178.

Technical Standards

Setape’s valuations are always carried out with strict observance of all guidelines set by the ABNT Standards – Brazilian Association of Technical Standards and Ibape Nacional – Brazilian Institute of Engineering Valuations and Expertise.

Why hire Setape?

Complete Advisory

The only company that performs all services of valuation of movable and immovable property, urban and rural, valuation of companies, and has support for asset control (fixed assets).

Proven Experience

With 45 years of activities and more than 80,000 services performed, it is the company with the most experience in evaluating the fixed assets market and in economic evaluations.

Qualified Team

It has its own team with more than a hundred professionals from all specialties.

Satisfied Customers

Quality of services proven by its customers

International Coverage

It belongs to the VRG – Valuation Research Group of international valuation companies with service coverage on all continents

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