Save article

Saved

 

News

Brazil: Decree 8,175/2013 – IOF increased to 6.38% on foreign exchange transactions

Decree 8,175/2013, published in the Official Gazette of 28 December 2013 and effective from this date, provided that the rate of tax on financial transactions (imposto sobre operações financeiras – IOF) levied on foreign exchange transactions by debit or credit card administrators to cover cash withdrawals carried out by their clients in a foreign country was increased to 6.38% (previously 0.38%).

The same 6.38% rate will also be levied on exchange transactions in the acquisition of currency in the form of traveler’s checks, and on loading prepaid international credit cards.

© copyright IBFD. This article is part of a selection of daily news from the IBFD Tax News Service (TNS) chosen by EY professionals. All rights to the content reside with IBFD. Any use requires IBFD’s prior permission in writing. IBFD´s disclaimer applies to any and all of IBFD’s articles and publications.

Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

 

TAGS

Font size

Tax topics >

No filter criteria selected.

Industries >

No filter criteria selected.

Countries >

No filter criteria selected.

 < Close

Connect

 < Close

Countries

 < Close

Tax topics

 < Close

Industries

 < Close

Regions

 < Close

0 articles have been saved