OrbitaxBrazilian National Congress Suspends Financial Transactions Tax Increases
|Approved Changes|Brazil
On 25 June 2025, both the Brazilian Chamber of Deputies and the Senate (lower and upper houses of National Congress) approved Draft Legislative Decree No. 214 of 2025 to suspend (repeal) three earlier presidential decrees that increased the financial transactions tax (IOF) rates. The decree was published in the Official Gazette on 27 June 2025 as Legislative Decree No. 176 of 26 June 2025. This includes the suspension of Decree No. 12.466 of 22 May 2025 and Decree No. 12.467 of 23 May 202…