Tag: IOF tax

By Alfred Rinaldi, Contributing Reporter RIO DE JANEIRO, BRAZIL - Residents of Brazil making purchases abroad using travelers' checks and pre-paid debit cards have been caught unawares by a surprise hike in the foreign transactions tax IOF. The Imposto sobre...

By Anna Kaiser, Contributing Reporter RIO DE JANEIRO, BRAZIL - The Brazilian government announced yesterday that it will zero the IOF tax (Tax on Financial Transactions), in an effort to protect the weakening real in response to the strengthening dollar....