Alana Aiche do Carmo Dahrouj
Lawyer at Marcos Martins Advogados
The Federal Government has once again reduced the rate of the Tax on Financial Operations – IOF – to zero.
As published, the rate for this tax had been re-established on November 26 as a way of compensating for spending on aid to the population of Amapá.
With the increase in revenue sufficient to compensate for these expenses, the Federal Government decided to zero the IOF rate again, a measure used to mitigate the impacts of the pandemic.
The zero rate begins to apply today (December 15, 2020) and will remain in force until December 31, with the aim of reducing the cost of obtaining credit, benefiting individuals, companies, micro and small businesses.
Marcos Martins Advogados makes its tax team available for further clarification on the subject.
