Brazil's government publishes changes to IOF tax in Brazil's official Gazette
- Changes include higher IOF rate for specific foreign exchange transactions.
- Government unified the IOF rate at 3.5% for a series of FX transactions, including remittances abroad and use of international cards.
- Also targets closing tax evasion loopholes through the use of pension plans that were being used as high-income investment funds.
- Changes to come into effect from May 23rd.
22 May 2025 - 21:20- - Source: Newswires
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