The Brazilian Senate has announced it has given final approval on 14 March 2017 for the reopening of the Currency and Tax Compliance Special Regime (Regime Especial de Regularização Cambial e Tributária, RERCT) after receiving amendments to its initial proposal from the Chamber of Deputies in February. The RERCT regime was originally opened in 2016 for assets that were unreported up to 31 December 2014, and included a 15% tax rate plus a 15% penalty. Access to the regime ended 31 October 201…