Global Trade Alert
Global Trade Alert

Brazil: Extension of increased IOF tax of 6% to debit cards, traveler checks, and cash withdrawal

Announcement

28 Mar 2011

In March 2011, the government of Brazil announced a change to the import-specific domestic duties.

Source

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

28 Apr 2011

Revocation date:

No revocation date

Announced: 28 Mar 2011
Internal taxation of imports In force
On 28 March 2011, the Brazilian government raised the financialoperations tax, also known as the IOF, on credit card purchases byBrazilians made abroad (this includesinternet commerce). The tax rate...
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