ANNOUNCEMENT 04 Jun 2013In June 2013, the government of Brazil announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Decreto presidencial no. 8.023/2013 (in Brazilian Portuguese): http://www.normaslegais.com.br/legislacao/decreto-8023-2013.htm
Bloomberg, June 4,2013, 'Brazil Scraps Foreign Investment Tax as Real Hits Four'Year Low': http://www.businessweek.com/news/2013-06-04/brazil-scraps-foreign-investment-tax-as-real-hits-four-year-low
On June 4, 2013, Brazil's Finance minister, Mr. Guido Mantega, announced the elimination of the country's foreign investment tax (Imposto sobre Operaçőes Financeiras, IOF) on fixed income funds, which previously stood at 6 per cent. On June 5, with the adoption of Presidential Decree no. 8023/2013, the measure entered into force.