ANNOUNCEMENT 28 Mar 2011

In March 2011, the government of Brazil announced a change to the import-specific domestic duties.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



On measure from 28 March 2011:

Bloomberg, 29 March 2011, 'Brazil Boosts Tax on Overseas Credit-Card Purchases': http://www.bloomberg.com/news/2011-03-28/brazil-boosts-tax-on-overseas-credit-card-purchases-correct-.html

Tributario.net, 25 March 2011, 'Decreto presidencial aumenta o IOF das despesas com cart?o de cr?dito feitas fora do pa?s de 2,38% para 6,38%': http://tributario.net/www/decreto-presidencial-aumenta-o-iof-das-despesas-com-cartao-de-credito-feitas-fora-do-pais-de-238-para-638/

Decreto no. 7.454 of 25 March 2011, Official Gazette of 28 March 2011, p. 3 (in Portuguese): http://pesquisa.in.gov.br/imprensa/jsp/visualiza/index.jsp?jornal=1&pagina=3&data=28/03/2011

Inception date: 28 Apr 2011 | Removal date: open ended
Still in force

Internal taxation of imports

On 28 March 2011, the Brazilian government raised the financialoperations tax, also known as the IOF, on credit card purchases byBrazilians made abroad (this includesinternet commerce). The tax rate, was raised from 2.38% to 6.38%. The measure took effect from 28 April 2011 on.
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A