Federal Government reduces IOF/Exchange rates

With the publication of Decree No. 10,997/2022, the Federal Government will reduce the IOF/Exchange rate to zero by 2029.

Marina Yamane and Gabriel Paranaguá explain in an Alert how this progressive reduction will take place due to the requirements for Brazil to join the Organization for Economic Cooperation and Development (OECD).

In addition, they highlight the reduction, as of Monday 21 March, of the IOF/Exchange rate on foreign loans with a term of up to 180 days, from 6% to 0%.

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