Brazil's IOF Tax Hike Stalls - Here's What Traders Need to Know
Key Points
- Brazil's proposed IOF tax increase has led to a political de...
July 15, 2025 marks the day Brazilian President Lula learned that raising taxes is like trying to herd cats - theoretically possible, but good luck getting everyone to cooperate.
The Financial Operations Tax (IOF) increase that was supposed to fill Brazil's coffers has instead created a three-way standoff between the executive branch, Congress, and the Supreme Court. Think of it as a high-stakes game of rock-paper-scissors, except everyone threw rock and now they're all just staring at each other.
When Tax Hikes Meet Political Reality
Lula's administration pitched the IOF increase as a ...
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