IOF changes and their impact on financial transactions.

An objective overview of changes announced in June 2025 and their potential effects on credit, foreign exchange and investment transactions in Brazil.

Changes in rates and taxable events may affect the effective cost of funding, the structure of cross-border operations and expected investment returns.

An objective overview of changes announced in June 2025 and their potential effects on credit, foreign exchange and investment transactions in Brazil.

Changes in rates and taxable events may affect the effective cost of funding, the structure of cross-border operations and expected investment returns.

Who should pay attention

Companies using credit in Brazil
Groups with cross-border loans and payments
Investors and FIDC structures

Credit transactions

Financing, receivables transactions and other structures should be recalculated based on term, borrower, instrument and any specific treatment.

Domestic credit
Receivables financing
Intercompany loans

Foreign exchange and cross-border flows

Imports, services and intangible payments, capital inflows and outbound remittances may have different consequences depending on the nature and registration of the transaction.

Investments

Funds, debt instruments and other investment structures should be compared based on total tax cost rather than IOF’s nominal rate alone.

Informational demonstration only. It does not address specific situations and is not legal advice.

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