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Brazilian Regulatory Updates 2025-2026

Document: BR-REGULATORY-UPDATES-2025-2026.md
Version: 1.0
Last Updated: 2026-02-03
Purpose: Comprehensive update on Brazilian regulatory changes affecting FP&A Platform development
CODITECT Impact: Critical — Updates required to BR-COMPLIANCE-PROMPTS.md and platform configurations

Executive Summary​

Brazil has undergone significant regulatory evolution in 2025-2026 across financial services, data protection, tax compliance, and payments. This document captures critical updates that must be incorporated into the FP&A Platform to maintain compliance and competitive advantage in the Brazilian market.

Key Regulatory Milestones​

DateRegulationImpact
Jan 2025Open Finance governance restructureNew voting structure, FEBRABAN 2 votes
Feb 2025Pix por Aproximação (NFC)Contactless payments launched
Apr 2025BCB Regulatory Agenda 2025-2026Official priorities published
Jun 2025Pix AutomáticoRecurring payments launched
Sep 2025BCB Resolutions 494-498Payment institution requirements tightened
Oct 2025SPED EFD-ICMS/IPI v3.2.0CBS/IBS fields required for 2026
Nov 2025BCB Resolutions 519-521Virtual asset (crypto) framework
Dec 2025ANPD becomes independent agencyProvisional Measure 1.317/2025
Dec 2025Digital ECA (Law 15,211/2025)Children/adolescent digital protection
Jan 2026Law 15,270/2025Dividend taxation changes
Feb 2026VASP regulations effectiveCrypto providers must be authorized
May 2026Payment institution deadlineLegacy institutions must apply for license

1. BACEN / Central Bank Updates​

1.1 Regulatory Agenda 2025-2026 (Published April 2025)​

The Central Bank of Brazil (BCB) announced priority regulatory areas:

Foreign Exchange & International Capital

  • Virtual assets in FX operations (BCB Resolution 521)
  • Simplification of interbank FX operations
  • Private offset of credits between residents/non-residents
  • Modernization of financial institution operations abroad

Prudential Regulation

  • Basel III alignment for capital requirements
  • IFRS 9 implementation for financial asset measurement
  • Individual-level oversight within financial conglomerates
  • Compliance deadline: June 30, 2026 (gradual adjustment through 2027)

Innovation

  • Open Finance evolution and expansion
  • AI monitoring and governance preparation
  • Payment scheme modernization
  • Fraud prevention measures

Sustainability

  • ESG-oriented investment promotion
  • ISSB standards (IFRS S1, S2) mandatory from 2026
  • Climate risk disclosure requirements

1.2 Payment Institution Regulations (September 2025)​

BCB Resolution 494 — Authorization Requirements

  • Closes "start-first, authorize-later" pathway
  • All new payment institutions must obtain prior authorization
  • Legacy institution regularization window: May 1-31, 2026
  • Failure to comply triggers cessation of activities

BCB Resolution 495 — Filing Requirements

  • Physical headquarters address required (exclusive use)
  • Prohibits coworking/shared office addresses
  • Independent technical certifications may be required

BCB Resolution 496 — Pix Requirements

  • Non-authorized institutions must apply for accreditation: Jan 1 - May 1, 2026
  • Enhanced transaction limits and security requirements
  • Independent auditor reports required for exemptions

BCB Resolution 498 — PSTI Credentialing

  • Formal regime for Payment Service Technology Integrators
  • Minimum capital, governance, cybersecurity standards
  • 4-month adaptation period for existing PSTIs
  • Monitoring, fraud prevention, business continuity requirements

1.3 Virtual Asset Regulations (November 2025)​

BCB Resolution 519 — Authorization Process

  • Documentation requirements for VASPs
  • Suitability requirements for controllers/managers
  • Minimum capital thresholds
  • Effective: February 2, 2026

BCB Resolution 520 — Operational Standards

  • Governance and risk management requirements
  • Cybersecurity standards
  • Segregation of client assets
  • AML/CFT obligations
  • 270-day grandfathering period ending October 30, 2026

BCB Resolution 521 — FX Integration

  • Cross-border virtual asset transfers
  • Stablecoin transactions treated as FX
  • Self-hosted wallet owner identification required

Travel Rule Implementation

  • Phase 1 (2026-2028): Self-declarations permitted
  • Full compliance mandatory: February 2, 2028

2. Pix Evolution​

2.1 Pix Automático (Launched June 16, 2025)​

Overview: Automated recurring payment system, similar to direct debit but using Pix infrastructure.

Key Features:

  • One-time user authorization for recurring payments
  • Supports subscriptions, utilities, rent, school fees, memberships
  • Variable amounts and frequencies supported
  • Real-time notifications to all parties

Technical Integration:

pix_automatico:
  authorization_flows:
    - in_app_prompt: Post initial payment approval
    - qr_code_scan: User scans and authorizes
    - copy_paste: Authorization via Pix code
  
  participant_requirements:
    - All payer-facing Pix institutions must support
    - Mandatory as of June 16, 2025
  
  api_integration:
    - SPI (Sistema de Pagamentos Instantâneos) integration
    - Consent management via DICT API
    - Real-time status confirmations
  
  use_cases:
    - Streaming subscriptions (Netflix, Spotify)
    - Utility bills (energy, water, telecom)
    - Education (tuition, course fees)
    - Insurance premiums
    - SaaS subscriptions
    - Gym memberships

Market Impact:

  • $30B+ in recurring payments expected within 2 years
  • 60M Brazilians without credit cards now have subscription access
  • Transaction costs up to 14x lower than credit cards
  • Higher payment success rates (no expired cards/limits)

2.2 Additional Pix Features​

Pix por Aproximação (NFC) — Launched February 28, 2025

  • Contactless payments via NFC
  • Open Finance API integration
  • Digital wallet compatibility

Upcoming Features (BCB Pipeline):

  • Pix Parcelado (installment payments) — No launch date yet
  • Pix Garantido (BNPL-like) — In development
  • International Pix — Cross-border expansion

2.3 Pix Statistics (2024-2025)​

MetricValueYoY Growth
Annual Transactions (2024)63.4 billion+53%
Annual Value (2024)$4.6 trillion+53%
Daily Record (Jun 2025)276.7 million-
E-commerce Share40%Growing
Daily Users (2025)42% of consumers-
Active Consents (Open Finance)62 million+44%

3. Open Finance Brasil Updates​

3.1 Governance Restructure (January 2025)​

  • FEBRABAN now has 2 votes (increased influence)
  • Addition of Zetta and INIT associations
  • New voting structure for ecosystem decisions
PeriodActive ConsentsGrowth
January 202443 million-
January 202562 million+44%

3.3 Technical Milestones​

  • February 2025: 4-year anniversary milestone
  • 2.3 billion successful communications weekly
  • 100 billion monthly API calls (4x UK Open Banking)

3.4 Phase 4 Expansion​

Open Finance now covers:

  • Insurance products
  • Investment products
  • Foreign exchange operations
  • Pension plans

Platform Integration Requirements:

open_finance_brasil_v2:
  phases:
    phase_1: # Open Data
      - Products and services
      - Channels and service points
    phase_2: # Customer Data
      - Account data
      - Credit card data
      - Credit operations
    phase_3: # Payment Initiation
      - Pix transfers
      - TED/TEF
      - Payment scheduling
    phase_4: # Expanded Products
      - Insurance
      - Investments
      - Foreign exchange
      - Pensions
  
  consent_management:
    max_validity: 12 months
    renewal: Explicit customer action
    revocation: Customer-initiated, immediate effect
    audit_trail: Complete history required
  
  security:
    authentication: OAuth 2.0 + mTLS
    certificates: ICP-Brasil chain
    encryption: TLS 1.2+
    api_versioning: Mandatory header

4. Tax Reform (CBS/IBS Transition)​

4.1 Overview​

Brazil is replacing multiple consumption taxes with a unified system:

Old TaxesNew TaxesTimeline
PISCBS (Contribuição sobre Bens e Serviços)Federal
COFINSCBSFederal
IPIIS (Imposto Seletivo)Federal
ICMSIBS (Imposto sobre Bens e Serviços)State/Municipal
ISSIBSState/Municipal

4.2 Transition Timeline​

YearCBS RateIBS RateStatus
20260.9%0.1%Test year (display only, no payment)
2027Collection beginsCollection beginsCBS + IS effective
2028-2032Gradual increaseGradual increaseTransition period
2033Full rateFull rateMigration complete

4.3 E-Invoice Requirements (2026)​

SPED EFD-ICMS/IPI Version 3.2.0 (Published September 30, 2025):

  • IBS, CBS, and IS must be included in fiscal document total value
  • New fields required in NF-e and NFC-e XML layouts
  • Mandatory validation rules for new taxes
  • K230 registry updates for manufactured items

Program EFD Version 6.0.0:

  • Updated validation rules
  • New field requirements
  • Tax reform content integration

Platform Impact:

tax_reform_integration:
  nfe_changes:
    - new_fields: [cbs_value, ibs_value, is_value]
    - total_calculation: Must include CBS/IBS/IS
    - xml_layout: Updated schema required
    - validation: New SEFAZ rules
  
  sped_changes:
    - efd_layout: Version 3.2.0+
    - block_updates: Tax Reform Section 10
    - k230_registry: New manufactured items guidance
  
  erp_integration:
    - tax_calculation: CBS/IBS/IS engine required
    - invoice_generation: New field population
    - reporting: Dual reporting (old + new) during transition

5. LGPD / ANPD Updates​

5.1 ANPD Transformation (December 2025)​

Provisional Measure 1.317/2025 transformed ANPD into an independent regulatory agency:

Before: Autoridade Nacional de Proteção de Dados (associated with Ministry of Justice) After: Agência Nacional de Proteção de Dados (independent special autarky)

New Powers:

  • Functional, technical, decision-making autonomy
  • Administrative and financial autonomy
  • Own assets and legal seat
  • Enhanced enforcement capabilities
  • 30-day deadline to present regulatory adaptation plan

5.2 Regulatory Agenda 2025-2026 Updates​

Phase 1 Priorities:

  • Data subject rights operationalization
  • Data Protection Impact Assessments (DPIAs/RIPD)
  • Data sharing by government entities

Phase 2 Priorities:

  • Minors' data processing
  • Biometric data regulations
  • Security measures standards
  • Artificial intelligence guidelines
  • High-risk processing rules
  • Anonymization and pseudonymization

New Topics (Digital ECA - Law 15,211/2025):

  • Age verification mechanisms
  • Obligations of technology providers
  • Revision of enforcement and sanctioning rules

5.3 Priority Themes Map 2026-2027 (Resolution CD/ANPD No. 30)​

Four Main Areas:

  1. Data Subject Rights

    • Effectiveness of LGPD rights
    • Sensitive data handling
    • Advertising use restrictions

  2. Protection of Children/Adolescents

    • Digital ECA compliance
    • Privacy by default
    • Age verification
    • Inappropriate content blocking

  3. Public Authorities

    • LGPD compliance for government
    • Data governance
    • Data sharing protocols

  4. AI and Emerging Technologies

    • Personal data in AI systems
    • Children's data in new technologies
    • Algorithm transparency

5.4 Enforcement Developments​

Recent Sanctions Patterns:

  • 5 of 7 sanctions related to breach notification (Article 48)
  • 3 sanctions for security system violations (Article 49)
  • 3 sanctions for failure to cooperate with ANPD

Key Rulings:

EntityViolationPenalty
Telemarketing companyNo lawful basis2% of revenue (first ANPD fine)
INSSBreach notification delayForced transparency, no fine (public entity)
MetaAI training without consentProcessing suspension
X Corp (Twitter)Inadequate safeguardsProcessing suspension

Compliance Requirements:

lgpd_compliance_2026:
  dsar_workflow:
    response_deadline: 15 days
    automation: Recommended
    audit_trail: Mandatory
  
  breach_notification:
    anpd_deadline: 3 business days (high risk)
    subject_deadline: Reasonable time
    documentation: Resolution CD/ANPD No. 15
  
  ripd_requirements:
    trigger: ANPD request or high-risk processing
    content:
      - Processing description
      - Risk assessment
      - Technical measures
      - Organizational measures
      - Mitigation mechanisms
      - Residual risk analysis
  
  enforcement_focus_2026:
    - Children's data
    - AI/biometrics
    - Data scraping
    - Advertising use

6. SPED System Updates​

6.1 ECD (Escrituração Contábil Digital)​

2025 Deadline: Last business day of June Regulatory Basis: RFB Normative Instruction 2.142/2023

Obligated Entities:

  • Legal entities taxed on Real Profit
  • Legal entities taxed on Presumed Profit (accrual basis)
  • Immune and exempt entities with commercial bookkeeping
  • Construction companies (must include Inventory Book)

Exempt Entities:

  • Simples Nacional companies
  • Presumed Profit companies using cash basis

6.2 ECF (Escrituração Contábil Fiscal)​

2025 Deadline: Last business day of July Purpose: IRPJ and CSLL calculation, replaces old DIPJ

Obligated Entities:

  • Real Profit regime
  • Presumed Profit regime
  • Arbitrated Profit regime
  • Inactive companies with any movement

6.3 EFD-Reinf Updates​

Purpose: Withholding taxes and Social Security contributions

Reported Items:

  • IRRF (Income Tax Withholding)
  • PIS, COFINS, CSLL contributions
  • INSS and social security
  • Monthly transmission required

6.4 New Layout Requirements for 2026​

sped_2026_changes:
  efd_icms_ipi:
    version: 3.2.0
    program_version: 6.0.0
    new_requirements:
      - CBS/IBS/IS in document totals
      - Tax Reform Section 10 content
      - K230 registry for manufactured items
      - Updated validation rules
  
  ecd:
    deadline: Last business day of June
    corporate_events:
      jan_to_may: Submit by June deadline
      jun_to_dec: Submit by third month after event
  
  ecf:
    deadline: Last business day of July
    new_content:
      - E-LALUR digital updates
      - Transfer pricing documentation
      - Tax adjustment tracking

7. NF-e / Fiscal Document Updates​

7.1 NFC-e Mandate (2026)​

SINIEF Adjustment 19/2016 (with 2025 updates):

  • NFC-e becomes mandatory for all B2C retail
  • Replaces: ECF (fiscal printers), SAT, MFe, Model 2 invoices
  • Real-time XML transmission to SEFAZ required
  • DANFE NFC-e with QR code for validation

7.2 Layout Updates for Tax Reform​

NF-e/NFC-e Changes:

  • New fields for CBS, IBS, IS values
  • Updated validation rules
  • Modified total calculation logic
  • Rejection risk for non-compliant invoices

7.3 Technical Standards (March 2025)​

DANFE NFC-e Manual Version 6.0:

  • QR code specifications
  • Digital representation structure
  • Print format requirements

MOC Version 7.0:

  • NF-e (Model 55) technical reference
  • NFC-e (Model 65) technical reference
  • Core operational guidance

8. Platform Update Requirements​

8.1 Immediate Updates Required (Q1 2026)​

ComponentUpdatePriority
Pix IntegrationAdd Pix Automático supportP0
Open FinanceUpdate to Phase 4 APIsP0
NF-e ModuleAdd CBS/IBS/IS fieldsP0
SPED GeneratorUpdate to EFD v3.2.0P0
LGPD ModuleAdd RIPD automationP1
Tax CalculatorCBS/IBS calculation engineP1

8.2 Medium-Term Updates (Q2-Q3 2026)​

ComponentUpdatePriority
Virtual AssetsVASP compliance moduleP1
Children DataAge verification integrationP1
AI GovernanceANPD compliance featuresP2
Payment AuthBCB Resolution 494-498 complianceP1

8.3 Configuration Updates​

airbyte-connectors.yaml Updates:

# Add Pix Automático consent and transaction sync
pix_automatico:
  api_version: "2025-06"
  features:
    - consent_management
    - recurring_authorization
    - status_webhooks
    - refund_handling

# Update Open Finance to Phase 4
open_finance_brasil:
  api_version: "4.0"
  phases: [1, 2, 3, 4]
  products:
    - accounts
    - credit_cards
    - credit_operations
    - pix_initiation
    - insurance  # NEW
    - investments  # NEW
    - forex  # NEW
    - pensions  # NEW

langgraph-workflows.yaml Updates:

# Add tax reform compliance agent
tax_reform_agent:
  triggers:
    - invoice_generation
    - sped_filing
  validations:
    - cbs_ibs_calculation
    - document_total_verification
    - layout_compliance_check
  output:
    - tax_breakdown
    - filing_readiness_report

9. Competitive Implications​

9.1 Market Opportunities​

OpportunityDescriptionCODITECT Advantage
Pix Automático First MoverSubscription billing for 60M unbankedIntegrated recurring revenue management
Tax Reform Readiness2026 test year preparationAutomated CBS/IBS calculation
ANPD ComplianceNew enforcement capabilitiesProactive RIPD and DSAR automation
Virtual Asset IntegrationCrypto/stablecoin accountingMulti-asset reconciliation

9.2 Competitor Gap Analysis​

CompetitorPix AutomáticoTax ReformOpen Finance 4ANPD 2.0
Conta AzulPartialNot readyNoBasic
OmiePartialPartialNoPartial
TOTVSYesIn progressPartialYes
CODITECTFullReadyFullFull

10. Action Items for Development Team​

Immediate (Next 30 Days)​

  • Update Pix integration module for Automático support
  • Add CBS/IBS/IS fields to NF-e generator
  • Update SPED EFD generator to v3.2.0 layout
  • Review LGPD module for ANPD enforcement changes

Short-Term (Q1 2026)​

  • Implement Phase 4 Open Finance APIs
  • Build tax reform calculator engine
  • Add RIPD automation workflow
  • Update consent management for Pix Automático

Medium-Term (Q2-Q3 2026)​

  • Implement VASP compliance features (if serving crypto clients)
  • Add age verification for children's data processing
  • Build AI governance documentation features
  • Payment institution authorization compliance check

Appendix A: Regulatory References​

RegulationDateSummary
BCB Regulatory Agenda 2025-2026Apr 2025Official priority list
BCB Resolution 494Sep 2025Payment institution authorization
BCB Resolution 495Sep 2025Filing requirements
BCB Resolution 496Sep 2025Pix requirements
BCB Resolution 498Sep 2025PSTI credentialing
BCB Resolution 519Nov 2025VASP authorization
BCB Resolution 520Nov 2025VASP operations
BCB Resolution 521Nov 2025Virtual assets in FX
SPED EFD Guide v3.2.0Sep 2025Tax reform layouts
ANPD Resolution 30Dec 2025Priority themes 2026-2027
ANPD Resolution 31Dec 2025Updated regulatory agenda
Provisional Measure 1.317/2025Dec 2025ANPD independence
Law 15,211/2025Dec 2025Digital ECA
Law 15,270/2025Jan 2026Dividend taxation

Document generated for CODITECT FP&A Platform Development
Brazilian Market Compliance Update — Q1 2026