ANNOUNCEMENT 04 Jun 2014In June 2014, the government of Brazil announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
PricewaterhouseCoopers. (2014). International Tax News. Available at http://www.pwc.com/en_GX/gx/tax/newsletters/international-tax-services/assets/pwc-international-tax-news-august-2014-edition.pdf
Receita Federal. (2014). Decreto n? 8.263, de 3 de junho de 2014. Available at http://www.receita.fazenda.gov.br/legislacao/Decretos/2014/dec8263.htm
On 4 June 2014, the Brazilian President issued Decree No. 8.263, shortening the minimum term for foreign loans subject to the 6% Tax of Financial Operations (IOF) to 180 days. Previously, this rate applied to loans with a maturity of 360 days or less.
As of 4 June 2014, foreign loans with a maturity of more than 180 days will be freed from paying the IOF.