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Covid-19 – The Brazilian Government extends IOF tax rate to zero on credit transactions
Decree No. 10,414/2020 was published today, extending the Financial Transactions Tax (“IOF”) rate to zero on credit transactions for another three months. The IOF is generally levied on credit transactions by applying a daily rate (defined according to the nature of the borrower – legal entity or individual), limited in some modalities, plus an additional […]