Announcement
02 May 2016
The Government of Brazil introduced several changes related to the IOF tax related to the purchase of foreign currency.
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Number of interventions
1
1 certainly harmful
0 likely harmful
0 liberalising
List of interventions
1 in force
Implementation date
02 May 2016
Revocation date:
No revocation date
Controls on commercial transactions and investment instruments
In force
On May 2, 2016, Decree 8,731 was published on the Official Gazette of Brazil increasing to 1.10% the applicable IOF to the purchase of foreign currency. The previous applicable IOF tax was set at 0.38...
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Related State Acts
02 May 2016
Brazil: Changes to the IOF tax regime
20 Jan 2015
Brazil: IOF increased on credit transactions
04 Jun 2014
Brazil: Changes to the IOF rates and durations for short term foreign loans
28 Dec 2013
Brazil: IOF tax increased on financial transactions
01 Apr 2013
Brazil: IOF tax reduction on investments in capital goods, infrastructure, and technology
19 Nov 2011
Brazil: Increase of IOF tax on overseas depositary receipts
28 Mar 2011
Brazil: Extension of increased IOF tax of 6% to debit cards, traveler checks, and cash withdrawal
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