
Brazil: Presidential Decree reduces Tax Rates on Foreign Exchange Transactions (IOF-Câmbio)
In brief Decree No. 10,997/2022, published today, 03/16/2022, reduces the rates of the Tax on Foreign Exchange Transactions (“IOF-Câmbio”).The Decree establishes an immediate reduction for some transactions, such as the reduction to zero of the rate applicable to short-term foreign loan operations. In other cases, however, the rate reduction is gradual over the next few […]