Legislative Decree No. 176/25 was published today, fully suspending the effects of the Presidential Decrees that increased the IOF rates applicable to foreign exchange, credit and card use transactions abroad.

The measure returns the rates to previous levels, as provided for in Decree No. 6,306/07, and represents a significant move by the National Congress in response to attempts by the Executive to increase revenue through an infra-legal act.

Here are the main points:

Operation Before (Decrees) After DL

International Cards 3,50% Return to 3,38%
(credit/debit)

Remittance Personal Expenses 3,50% Return to 1,10%

Remittance Investments 1.1% 0.38%

Buy currency 3.50% Return to previous level
(~1,1%)

Short-term loans 3.50% Return to previous rate
term

Contributions to VGBL 5% on surplus Exemption maintained for amounts
(social security) below the ceiling