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Tag: IOF tax

By Alfred Rinaldi, Contributing ReporterRIO 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 ReporterRIO 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....

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