Expert: Sandra - 11/19/2009

Question
QUESTION: Could you tell me if its possible to update my cpf online, I have a bank account in brazil although i live in england as i did own a house over there and want to send money over there but i am told that my cpf has to be kept up to date.
Thankyou
David

ANSWER: You would have to expain your situation in more detail. When did you get your CPF? Have you ever paid taxes? Have you ever gone online to declare "nothing"? Do you know for certain it has lapsed? Note: A couple of years ago the law was changed so that if you had nothing to declare, you didn't have to even go online to declare that anymore.

But I think you can "unsuspend" your CPF here:
http://www.receita.fazenda.gov.br/Novidades/Informa/LeiaMaisCPF/4.htm
http://www.receita.fazenda.gov.br/Novidades/Informa/LeiaMaisCPF/5.htm

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QUESTION: I have held my cpf over 5 years now i bought a property in Brazil but sold it in august this year i had the money transferred back to the UK but now i think with the interest rates being very good in Brazil the money is better of there, I have not paid taxes as i am not a citizen of Brazil never worked over there just owned a house,I have a bank account in unibanco and was afraid my account could be close or suspended if my cpf was not up to date i don't think it has lapsed but was under the impression you had to update it every year.

Thankyou

ANSWER: If you have "bens" in Brazil, including property, you do have to declare them every year. This can be done online. When you "update", you will probably be held liable for a fine if you have not declared what you own for a few years. This is a separate issue from the actual "bens", such as a bank account.

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QUESTION: I really need to know if there are any tax implications if i send money over to my bank in Brazil, can i say i am transferring the money over from my personal assets, the worry i have is that once i send it over i will not be able to get it back into the UK at some point, I don't have any property in Brazil now but when i did i paid taxes on it at the time, i checked my cpf online and it is OK it comes up as regular,
Thanks for your time and patients with this.

Answer
I think that money that is sent to Brazil properly through BoB is 'recognized' and would have no problem in being sent back out of the country. If not, they may want to know where it came from and tax it.
I would suggest posting on the expat forum at www.gringoes.com where people with more money than I to invest and move around may have more detailed/better answers for you.