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Brazil: Increase of IOF tax on overseas depositary receipts

Description

On 19 November 2011, the Brazilian Ministry of Finance raised afinancial operations tax, also known as the IOF, of 1.5% on the issuanceof overseas depositary receipts (DR) linked to Brazilian companie...

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Intervention Details

Intervention Type

Controls on commercial transactions and investment instruments

MAST Chapter

Capital control measures

Implementation date

19 Nov 2011

Revocation date

18 Dec 2013

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Affected Products

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