Brazil has published Decree No. 10.551 of 25 November 2020, which amends the effective period of the temporary reduction in the financial transactions tax (IOF) rate to 0% on credit transactions. The 0% IOF rate was initially provided from 3 April to 3 July 2020 in response to the COVID-19 pandemic and subsequently extended to 31 December 2020. With Decree No. 10.551, the period of the temporary reduction is set from 3 April to 26 November 2020.