Alana Dahrouj
Lawyer at Marcos Martins Advogados
As of November 27, the IOF – Tax on Financial Operations – will once again be levied on credit operations carried out in the country.
Last Wednesday (25) the Federal Government issued a decree bringing forward the end of the exemption from the IOF rate levied on credit operations, re-establishing the percentages previously in force.
The exemption measure was initially granted in April as a way of mitigating the economic impacts of the pandemic. After two extensions, it was scheduled to end on December 31.
In practice, with the re-establishment of the percentages, the tax will be levied on all credit agreements at rates of 0.0041% per day for legal entities and 0.0082% per day for individuals, plus an additional 0.38% for the operation.
Marcos Martins Advogados puts its tax team at your disposal for further clarification on the subject.
