Brazil has more than 28MM businesses registered in the CNPJ (Taxpayer Registration Number). However, Brazilian Revenue Service (RFB) plans to cancel approximately 10% of such registrations due to lack of updates. Keeping an updated CNPJ, às well as the corresponding digital certificates is fundamental for a company to be able to comply with its fiscal requirements (e.g. tax filings). In addition all companies must have a legal representative duly registered and, in the case of companies with foreign investors, proxy holders’ permanent residents to represent them.

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