ANNOUNCEMENT 04 Jun 2014

In June 2014, the government of Brazil announced altered domestic business conditions for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



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


Inception date: 04 Jun 2014 | Removal date: open ended

FDI: Treatment and operations, nes

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. 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A