Supreme Federal Court reinstates Tax on Financial Transactions rate increases
On 16 July 2025, Justice Alexandre de Moraes partially upheld the constitutionality of Decree 12,499/2025 and reinstated the higher Tax on Financial Transactions (IOF) rates, reversing Congress’s 27 June 2025 decision to overturn them. The measure followed a conciliation hearing between the Executive and Legislative Branches convened by the Justice, which ended without agreement. The […]
Congress Overturns IOF Increase
On 25 June 2025, Brazil’s National Congress passed Draft Legislative Decree (PDL) No. 214/2025, suspending Federal Decrees 12,466/2025, 12,467/2025, and 12,499/2025, which increased the Tax on Financial Transactions (IOF) rates. As a result, all three decrees have been repealed. Read more: Brazilian Government Expands Taxation Through Interim Measure and Revises IOF Rates by Decree The […]