Decree Reduces IOF-Exchange Rates Gradually to Reach Zero by 2029

Decree 10,997/22, published on March 16th, 2022, establishes the reduction of IOF-Exchange rate to zero. Currently, a general rate of 0.38% applies, but the applicable rules provide for some exceptions. According to Decree 10,997/22, the reduction will be gradual until it reaches all exchange transactions. Read more