Brazil to Eliminate Fixed-Income IOF

Brazil to Eliminate Fixed-Income IOF

Brazil Economy & Policy Corporate & Sovereign Strategy

Brazil plans reduce to 0% the IOF tax on fixed-income investment, according to local news and wire reports citing public remarks from Finance Minister Guido Mantega. The government is making the cut from 6% to 0% due to an expected reduction in international liquidity. It had been at 6% since 2010. The 1% IOF on derivatives stands unchanged. "We welcome the move as it reduces the distortions created by penalizing flows into Brazil and believe that in the short run the currency will test again th

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial