Understanding FCont Report

Through Legal Resolution 11941/09, the Brazilian Fiscal Authority introduced the transitional tax regime ("RTT" or "Regime Tributário de Transição"). Apart from other changes, this resolution involves an electronic reporting requirement, the Transitory Fiscal and Accounting Control (FCONT). This is an accessory obligation as part of the SPED initiative. It is applicable for all companies running business in Brazil.

FCONT is a bookkeeping of balance sheet accounts and a bookkeeping of income accounts. It includes information about transactions that occurred in the last calendar year.