BRAZIL: Elimination of Brazil IOF tax on fixed income

Wednesday June 5 2013

The elimination of Brazil IOF tax on fixed income means the Brazilian government has scrapped the 6% tax rate on foreign investors who buy Brazilian bonds in the domestic market. However, the tax on derivative operations will remain. This follows poor performance of the Brazilian currency, with the real on 31 May touching a four-year low.

Click on the above link for Decree 8,023, which amends the IOF Decree (in Portuguese).