Global Trade Alert
Global Trade Alert

Brazil: Increase of IOF tax on overseas depositary receipts

Announcement

19 Nov 2011

In November 2011, the government of Brazil announced a rule change for commercial cross-border financial flows.

Source

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

19 Nov 2011

Revocation date:

18 Dec 2013

Announced: 19 Nov 2011
Controls on commercial transactions and investment instruments
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 compani...
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