ANNOUNCEMENT 04 Jun 2013

In June 2013, the government of Brazil announced altered domestic business conditions for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



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


Inception date: 05 Jun 2013 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A