STF validates IOF levy on loan contracts involving non-financial institutions
On October 9, the Federal Supreme Court (STF) finalized its ruling on Theme 104 (Extraordinary Appeal No. 590.186/RS), which discussed the constitutionality of article 13 of Law No. 9.779/1999, since this provision provides for IOF to be levied on “credit operations” granted by legal entities not classified as financial institutions. The Court unanimously dismissed the […]
Incidence of IOF on transactions carried out by factoring companies
The Federal Supreme Court, in ruling on Direct Action for Unconstitutionality No. 1,763, stated that Financial Operations Tax (IOF) is levied on the sale of credit rights by factoring or commercial development companies.
