LEI No. 11,371, DE November 28, 2006.

Disposes over foreign exchange operations, about foreign capital registration, on payment in duty-free shops located in a port or airport primary area, on the taxation of the commercial tenancy of aircraft, on the novation of contracts concluded pursuant to § 1st of the art. 26 of Law No 9,491 of September 9, 1997, amend the Decree No 23,258 of October 19, 1933, the Act No 4,131 of September 3, 1962, the Decree-Law No 1,455 of April 7, 1976, and repeal Provisional Measure device No 303, 29, June 2006.

I do know that the President of the Republic adopted the Provisional Measure No. 315, 2006, that the Congress National has approved, and I, Renan Calheiros, Chairman of the Bureau of the National Congress, for the effects of the art. 62 of the Federal Constitution, with the essay given by Constitutional Amendment No 32, combined with art. 12 of Resolution No. 1, of 2002-CN, promulgated the following Law:

Art. 1st The foreign currency resources relative to the export receipts Brazilian goods and services abroad, carried out by physical or legal persons, may be held at overseas financial institution, observed the limits set by the National Monetary Council.

§ 1st The National Monetary Council shall have the form and conditions for the application of the willing in the caput, of this article, vetoed the differential treatment by sector or economic activity.

§ 2nd The resources kept abroad in the form of this article can only be used for the carrying out investment, financial application or payment of the exporter's own obligation, vetoed on loan or mutual fulfilment of any nature.

Art. 2nd National Monetary Council will be able to establish simplified forms of hiring of simultaneous purchase and selling operations of foreign currency, related to resources arising from exports, without prejudice to the provisions of the art. 23 of Law No 4,131 of September 3, 1962.

Single Paragraph. In the caput assumption of this article, the proceeds of the purchase and sale of the foreign currency shall transit, by its integral values, the credit and the bank account debit in the Country, of entitlement of the contractor of the operation.

Art. 3rd Regarding foreign-currency resources joined in the Country regarding the receipts from exports of goods and services, competes with the Central Bank of Brazil only to keep track of the exchange contracts.

Single Paragraph. The Central Bank of Brazil will provide the Office of the Federal Revenue Office with the registration data of which it treats the caput of this article, in the form by them established in joint act.

Art. 4th The art. 23 of the Act No 4,131, 1962, passes in addition to the following § 7th:

" Art. 23 .........................................................................

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?§ 7th The use of the form to which refers to § 2nd of this article is not compulsory in the purchase and foreign exchange operations of up to US$ 3,000.00 (three thousand dollars from the United States of America), or its equivalent in other currencies.? (NR)

Art. 5th Stay subject to registration in national currency, at the Central Bank of Brazil, the capital foreign invested in legal persons in the Country, not yet registered and not subject to another form of registration at the Central Bank of Brazil.

§ First For the purposes of the chaput of this article, the value of foreign capital in national currency to be registered must appear on the accounting records of the Brazilian legal person receiving the foreign capital in the form of the legislation in force.

§ 2nd The foreign capital in existing national currency on December 31, 2005, the one referred to as the caput of this article, is to be regularized by June 30, 2007, observed the provisions of § 1st of this article.

§ 3rd The hypothesis that it treats the caput of this article, accounted for from the year 2006, inclusive, shall have the registration effected up to the last working day of the calendar year subsequent to that of the annual balance sheet in which the legal person is obliged to register the capital.

§ 4th The Central Bank of Brazil will disclose constant data from the record that it treats this article.

§ 5th The National Monetary Council shall discipline the provisions of this article.

Art. 6th The fine of which it treats the Law No 10,755 of November 3, 2003 does not apply to the imports:

I-whose maturity occurs as of August 4, 2006 ; or

II-whose final term for the settlement of the import exchange contract, in the form of the inciso II of the art. First of Law No 10,755, 2003, did not transcend until August 4, 2006.

Art. 7th The infractions to the standards that regulate the records, at the Central Bank of Brazil, of foreign capital in national currency subject those responsible to the fine of R$ 1,000.00 (thousand reais) to R$ 250,000.00 (two hundred and fifty thousand reais).

Single Paragraph. The National Monetary Council shall establish the gradation of the fine referred to in the caput of this article and the hypotheses in which it may be waived.

Art. 8th The physical or legal person resident or domiciled in the Country who maintain abroad resources in foreign currency concerning the receipt of export, of which it treats art. First of this Act, you must declare to the Registry of the Federal Revenue Office the use of the resources.

§ 1st The exercise of the faculty provided for in the art caput. First of this Act implies the authorization of the provision to the Registry of the Federal Revenue Office, the financial institution or any other intervener, residents, domiciled or registered abroad, of the information on the use of the resources.

§ 2nd The legal person who maintain resources abroad in the form of art. First of this Act is required to maintain accounting registration under the commercial legislation.

§ 3rd The Registry of the Federal Revenue Disciplinary shall discipline the provisions of this article.

Art. 9th The inobservance of the willing in the arts. 1st and 8th of this Act will entail the application of the following fines of a fiscal nature:

I-10% (ten per cent) incidents on the value of resources maintained or used abroad in disagreement with the provisions of the art. First of this Act, without prejudice to the collection of the owed tributes ;

II-0.5% (five tenths per cent) to the month-calendar or fraction incident over value corresponding to the resources held or used abroad and not informed to the Office of the Federal Revenue Office, within the time limit set by it, limited to 15% (fifteen per cent).

§ 1st The fines that it treats the caput of this article will be:

I-applied autonomously to each of the infractions, albeit characterizing the occurrence of eventual contest ;

II-in the hypothesis that it treats the inciso II of the caput of this article:

a) reduced to half, when the information is provided after the deadline, but before any procedure of craft ;

b) duplicated, including as to its limit, in the event of fraud.

§ 2nd Compete to the Office of the Federal Revenue Office to promote the requirement of fines that it treats this article, observed the rite provided for in Decree No 70,235 of March 6, 1972.

Art. 10. In the hypothesis that the legal person keeps the resources abroad in the manner provided for in art. First of this Act, it does not depend on the effective foreign exchange entering into the application of the standards of which they treat § 1st and the inciso III of the art caput. 14 of the Provisional Measure on the 2.158-35, August 24, 2001, the inciso II of the art caput. 5th of the Law No 10,637 of December 30, 2002 and the inciso II of the art caput. 6th of Law No 10,833 of December 29, 2003.

Art. 11. The art. 3rd of the Decree No 23,258 of October 19, 1933, passes in vigorous with the following essay:

?Art. 3rd Is a penalty passable the price increase of imported goods to obtain undue toppings.? (NR)

Art. 12. The infractions to the arts. 1st, 2nd and 3rd of Decree No 23,258, of 1933, occurring from August 4, 2006, will be punished with fines between 5% (five per cent) and 100% (one hundred per cent) of the value of the operation.

§ 1st The National Monetary Council shall discipline the provisions of the arts. 1st, 2nd and 3rd of the Decree No 23,258 of 1933, and may establish gradation of the fines referred to in this article's caput.

§ 2nd subjected to the penalties of art. 6th of Decree No 23,258, 1933, coverage of coverage in export values occurring until August 3, 2006.

Art. 13. The art caput. 15 of Decree-Law No 1,455 of April 7, 1976, passes vigorously with the following essay:

?Art. 15. In the primary area of port or airport, you may be authorized, under the terms and conditions set by the Minister of State of the Farm, the operation of duty-free shops for sale of national or foreign merchandise to travel passengers international, on the arrival or exit of the Country, or in transit, against payment in national or foreign currency.

...............................................................................? (NR)

Art. 14. It is the Central Bank of Brazil exempted from signing up in active debt and to promote the fiscal execution of debits arising from administrative fines of its competence, considered to be of small value or of proven unenforceability, in the terms of of standard by it established.

Single Paragraph. For the purposes of the caput of this article, the Central Bank of Brazil may, upon reasoned act, effect the cancellation of enrolled debits and apply for the withdrawal of executions already proposed.

Art. 15. It is the Union authorized to package, with the National Bank for Economic Development and Social-BNDES, the novation of contracts awarded to the amparo of § 1st of the art. 26 of Law No 9,491 of September 9, 1997, aiming to give them form of hybrid capital and debt instrument as defined by the National Monetary Council, maintained, at the very least, the economic equivalence of the changed conditions.

Art. 16. It is reduced to 0 (zero), in relation to the generator facts that occur until December 31, 2013, the aliquot of the income tax at the source incident in the operations of which it treats the inciso V of the art. First of Law No 9,481 of August 13, 1997, in the hypothesis of payment, credit, delivery, employment or shipping, by source situated in the Country, the legal person domiciled abroad, by way of contravention of contract for market rental of aircraft or motors intended for it, concluded by regular public air transport company, from passengers or cargo, until December 31, 2008.

Art. 17. This Act shall enter into force on the date of its publication.

Art. 18. It is revoked the inciso IV of the art. 7th of Provisional Measure No 303 of June 29, 2006.

National Congress, on November 28, 2006 ; 185th of Independence and 118th of the Republic

Senator Renan Calheiros

Chairman of the Bureau of the National Congress

This text does not replace the published in the DOU of 11/29/2006.