{"id":376,"date":"2025-07-17T13:58:30","date_gmt":"2025-07-17T16:58:30","guid":{"rendered":"https:\/\/dgn.adv.br\/?p=376"},"modified":"2026-02-26T15:54:41","modified_gmt":"2026-02-26T18:54:41","slug":"stf-iof-risco-sacado-decreto","status":"publish","type":"post","link":"https:\/\/www.dgn.adv.br\/en\/stf-iof-risco-sacado-decreto\/","title":{"rendered":"Brazilian Supreme Court Upholds IOF Rates and Excludes \u201cRisco Sacado\u201d From Taxation"},"content":{"rendered":"

On July 16<\/strong>, the Brazilian Supreme Federal Court (STF) reinstated the higher IOF (Tax on Financial Operations) rates established by presidential decree, restoring taxation on financial transactions retroactively to June 27, 2025<\/strong>, the date on which the decree had been suspended by Congress.<\/p>\n

\n

With the single\u2011judge decision<\/strong> issued by Justice Alexandre de Moraes (07\/16), the following rules are once again in effect:<\/p>\n

    \n
  • 3.5% IOF<\/strong> on international remittances<\/li>\n
  • 5% IOF<\/strong> on contributions to VGBL plans and life insurance<\/li>\n
  • IOF applied to international credit card transactions, foreign exchange operations, and cash currency operations<\/strong><\/li>\n<\/ul>\n

    However, the government\u2019s attempt to tax the risco sacado<\/strong> (a type of supply\u2011chain financing) was rejected. The Justice held that this operation does not<\/strong> constitute a credit transaction and, therefore, cannot be subject to IOF<\/strong>, noting that extending the tax to this structure would exceed the Executive Branch\u2019s constitutional authority.<\/p>\n

    Practical Implications<\/strong><\/h3>\n

    The decision has raised concerns in the financial market, including fears of capital\u2011control measures and a potential uptick in offshore investments as a protective strategy. The reinstated, higher IOF rates \u2014 now valid retroactively<\/strong> \u2014 may significantly affect companies and investors who did not pay the tax during the suspension period.<\/p>\n

    The team at Donato & Garcia Neto Advogados<\/strong> is closely monitoring the evolving tax landscape and is available to advise clients on the legal, operational, and strategic consequences of this new ruling.<\/p>\n<\/div>\n

    <\/p>","protected":false},"excerpt":{"rendered":"

    On July 16, the Brazilian Supreme Federal Court (STF) reinstated the higher IOF (Tax […]<\/p>\n","protected":false},"author":1,"featured_media":377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[11],"class_list":["post-376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias","tag-direito-tributario"],"acf":[],"yoast_head":"\nIOF e risco sacado: STF valida al\u00edquotas e define limites de tributa\u00e7\u00e3o<\/title>\n<meta name=\"description\" content=\"IOF e risco sacado: decis\u00e3o do STF restabelece al\u00edquotas elevadas, afasta tributa\u00e7\u00e3o do risco sacado e impacta opera\u00e7\u00f5es financeiras e empresas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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