IOF tax trimmed again to boost Brazil investment

IOF tax trimmed again to boost Brazil investment

Economy & Policy Corporate & Sovereign Strategy

Brazil’s finance ministry cut the IOF tax on foreign investments held for longer than six months on Wednesday, saying it hoped to make it easier for local companies to attract capital as a result. Previously foreign investments held for less than a year were subject to the 6% tax. The IOF tax was introduced at a time of exaggerated inflows, which had since normalized, finance minister Guido Mantega told reporters on Wednesday. The news came after Brazil’s central bank said Monday that it would c

Already have an account?

Free trial

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

Free Trial