The federal government has again zeroed, until December 31, the Tax on Financial Operations (IOF) charged on loans and other credit operations.

The tax had been reset to zero at the beginning of the year due to the new coronavirus pandemic and was reinstated on November 26 to compensate for the assistance of the population of Amapá, which went through a 20-day electricity crisis. 

The measure will come into effect this Tuesday (12/15) and applies both in relation to the IOF levied on credit operations and additional rates of 0.38% of the same tax, applicable to short-term operations.

The expectation of the new measure is to benefit individuals, companies, micro and small companies that use the credit options.

What is IOF?  

The Tax on Financial Operations (IOF) is a tax paid by individuals and companies (companies) that perform credit operations such as loans, foreign exchange, insurance, etc. It is a federal tax with the objective of regulating the national economy.

What changes for you?

The suspension of the IOF for personal loans means that it will weigh less in your pocket. Before the decree was passed, the rate charged on credit operations was up to 3% per year.

Do you need a personal loan? 

Reducing loan taxes can be a solution for you to deal with bills. This offers more flexibility to request a personal loan. At Click Cash, you can make loans from R$ 1000 to R$ 10,000 reais, with installment payments up to 24 times. Download the application and make a simulation.

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