{"id":252907,"date":"2019-07-24T15:43:19","date_gmt":"2019-07-24T18:43:19","guid":{"rendered":"https:\/\/anba.com.br\/?p=252907"},"modified":"2019-07-24T16:01:53","modified_gmt":"2019-07-24T19:01:53","slug":"tax-on-export-revenues-to-no-longer-be-levied","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/tax-on-export-revenues-to-no-longer-be-levied\/","title":{"rendered":"Tax on export-related currency exchange no longer levied"},"content":{"rendered":"

Bras\u00edlia \u2013 Brazil\u2019s Federal Revenue will no longer levy the Tax on Financial Operations (IOF) on money exchange operations relating to the entry of export revenues into the country, contrary to a decision that had been made last year. Clarifications on the matter are in this Wednesday (24)\u2019s Federal Gazette.<\/p>\n

According to the National Confederation of Industry (CNI), as of the end of last year, the Federal Revenue had begun collecting 0.38% on export revenues entering the country. At that point, the Revenue had ruled that only those repatriating the funds on the date of sale would be exempt.<\/p>\n

According to the CNI\u2019s Export Competitiveness Forum, companies are unable to exchange the currency on the date of sale. \u201cExporting companies became very preoccupied. Some 90% of these funds are repatriated, but not on the same date, due to time zone issues, to cash buffers needed in order to pay suppliers, and other reasons,\u201d CNI Trade Policy manager Constanza Negri said.<\/p>\n

Translated by Gabriel Pomerancblum<\/strong><\/p>\n

Press Release<\/div>\n","protected":false},"excerpt":{"rendered":"

Brazil\u2019s Federal Revenue has changed its stance on charges formerly applicable to entry of funds stemming from foreign salese, as per this Wednesday (24)\u2019s Federal Gazette.<\/p>\n","protected":false},"author":2315,"featured_media":252902,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[10157,4597,10152,10158,6068],"class_list":{"0":"post-252907","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-export-revenue","9":"tag-federal-revenue","10":"tag-iof","11":"tag-iof-en","12":"tag-tax"},"wps_subtitle":"Brazil\u2019s Federal Revenue has changed its stance on charges formerly applicable to entry of funds stemming from foreign salese, as per this Wednesday (24)\u2019s Federal Gazette. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/252907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=252907"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/252907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/252902"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=252907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=252907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=252907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}