Brazil Adjusts IOF Tax Threshold

Brazil Adjusts IOF Tax Threshold

Brazil Economy & Policy Corporate & Sovereign Strategy

Brazil has changed its 6% IOF tax to apply to corporate loans with average maturity of up to 2 years, as opposed to loans of up to 5 years. While the move may signal a shift in government attitudes towards currency appreciation, there is not expected to be a surge in lending given the situation in the global economy. “The reduction in the maturity of loans subjected to the IOF tax might have an impact in external loans, although a surge is not to be expected given the growing risk aversion and t

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