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Brazil: IOF tax increased on financial transactions

Description

On December 17, 2013, Brazil's Ministry of Finance raised the IOF tax rate on financial transactions made by Brazilians abroad from 0.38% to 6.38%. The tax applies to traveller checks, cash withdrawal...

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Intervention Details

Intervention Type

Control on personal transactions

MAST Chapter

Capital control measures

Implementation date

27 Dec 2013

Revocation date

No revocation date

Implementation level

National

Affected flow

Outward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Products

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