- Extend the term of the foreign currency loans from two to three years. From now on, foreign currency loans obtained as from March 1st, 2012 which minimum average term is lower than three years are subject to Tax on Exchange Transactions (IOF) at 6% rate. For operations exceeding the three year-period, there is no such taxation since the applicable IOF rate is zero.
- IOF rate is equal to 0% for foreign exchange transactions, including simultaneous operations, associated with investments in Brazilian Depositary Receipts – BDR.
For more information, contact a tax professional with KPMG in Brazil:
Marienne Coutinho, +55 11 2183-3182, email@example.com
Ericson Amaral, +55 11 2183-3375, firstname.lastname@example.org
Murilo Mello, +55 11 2183-3261, email@example.com
Fabiana Pereira, +55 11 2183-6571, firstname.lastname@example.org
Fernando R. Martins, +55 11 2183-3284, email@example.com
Valter Shimidu, +55 11 2183-3269, firstname.lastname@example.org
Roberto Haddad, +55 21 3515-9469, email@example.com
Julio C. de Cepeda, +55 21 3515-9133, firstname.lastname@example.org