Brazil has implemented the OECD Common Reporting Standard (CRS) for the exchange of financial account information. Regulation of the CRS is made through Normative Instruction No. 1680/2016, which sets out the requirements of financial institutions to identify and remit information on reportable financial accounts of non-residents, which will be automatically exchanged with other jurisdictions participating in the CRS.
The exchange of information is made under the Mutual Assistance Conventio…