Brazil has published Decree No. 12.466 of 22 May 2025, which increased the financial transactions tax (IOF) for certain insurance, credit, and foreign exchange transactions. The rates are set as follows from 23 May 2025:
- 5% on contributions intended to cover the cost of life insurance plans with survival coverage, provided that the sum of the amounts contributed to all plans owned by the insured in the month exceeds BRL 50,000, up from 0%;
- 0.95% + 0.0082% per day on loan transactions grante…