In addition to Decrees 10.305/20 and 10.414/20 (Please refer to Newsletter- “Government extends deadline for the application of the 0% rate of the IOF-Credit”), Decree 10.504/20 was published, postponing to December 31 the term for the 0% rate of the IOF-Credit for the following hypotheses:

• credit transactions;
• extension, renewal, novation, composition, consolidation, debt confession and similar transactions of credit transaction without replacement of the creditor in which there is no replacement of the debtor, without prejudice to the portion charged on the date making resources available to the interested party; and
• credit transactions not settled at maturity.

The term extension also applies for the additional rate of 0.38% which remains reduced to 0% during the same period, but for specific transactions listed in article 8, § 5 of the RIOF.

The rate reduction applies to the credit operations mentioned, regardless of whether practiced by financial institutions or not as provided by RIOF.

We remain at your disposal for clarifications.