IOF removal permanent shift: Levy

IOF removal permanent shift: Levy

Brazil Economy & Policy Corporate & Sovereign Strategy

This week’s reduction of the IOF tax on capital inflows to Brazil to 0% from 6% is a result of normalization – and the government is unlikely to raise it again, Joaquim Levy CEO of Bradesco Asset Management told LatinFinance. “The time of normalization may be approaching,” the former Brazilian government official said. The IOF was a reaction to crisis-fighting measures by US and other foreign governments. Now central banks are recognizing improving growth. Minutes to the recent Copom rates set

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