3º In the case of credit transactions paid in instalments, the IOF screen of the OIF, which deals with section „b” of Article I of Article 7 of Decree No. 6.306 of 14 December 2007, is determined according to the depreciation system© agreed between the parties. as long as it is expressly mentioned in the respective contract. II – applies to an amount of 0% (zero percent) if they are carried out between institutions authorized to operate on the war market, on the basis of the provisions of point II of Article 15-B of this Decree. § 3 In the case of derivative financial contracts that deal with the exchange rate of a foreign currency other than the US dollar against the national currency or the interest rate associated with a foreign currency other than the US dollar against the national currency, the adjusted nominal value and exchange risks are calculated in the foreign currency itself and converted into US dollars to calculate the basis of calculation. (Included in Decree No. 7.563, 2011). 38 The basis of calculation of the OIF is the purchase price of gold, provided that, within the limits of variation of the price applicable on the domestic market on the day of the operation (Law No. 7,766, 1989, art. 9). §§ 2 º In the case of credit transactions carried out through a current account©, the credit basis is: III – monthly ratio of loans to be taken into account, including the limit of overrun, of a maximum period of three hundred and sixty-four days, imposed on the basis of the sum of the daily debts or balances, calculated on the last day of each month, with the name of the beneficiary, the amount and the value of the OIF collected; (b) where the value of the capital to be used is expressly defined, the basis of calculation shall be the value of any surplus calculated daily resulting from new amounts delivered to the person concerned without taking into account the charge as such: III – in advance to the depositor, the basis of calculation shall be the sum of the debtor`s daily balances calculated on the last day of each month: 7º Planned in the hips in the arts. 5. and 6., When new amounts are delivered or made available to the interested party, they constitute a new basis of space and are taxed on the day they were delivered or made available to the interested party.

52 A reduction of fifty per cent of the fine for sending a letter is granted to the taxpayer who, when notified, must pay the debt within the statutory cancellation period (Law No. 8.218, 1991, Art. 6, and Law No. 9.430, 1996, Art. 44, § 3). In this procedural roadmap, we will look at what the legislation on the tax on credit©, credit and insurance transactions or with regard to securities or securities, known by the acronym IOF (Tax on Financial Operations), should tell us about the subject of „auditing”. To this end, we will rely on Articles 59 and 60 of Regulation IOF/2007 (RIOF/2007), approved by Decree No 6.306/2007. (…) As regards the fact that the tax is a chargeable, according to the general rules, it includes the provision or investment of the amounts or guarantees at the disposal of the interested parties and becomes payable at the time of the transactions either by total or partial delivery, the basis of calculation being the sum of the obligation assumed (principal + interest). Article 14 In the case of credit transactions concluded for an indefinite period and which have defined the value of the capital to be used by the borrower, the daily rate provided for the operation shall apply and the basis of calculation shall be the NPV multiplied by three hundred and sixty-five. II – in the case of companies that opt for The National Simple, the borrower of the credit enterprise must provide the legal entity with a two-way statement that it is a legal person in accordance with the tax regime of Supplementary Law No. 123 of the year 2006, and that the signatory is the legal representative of it and that he is aware that the falsity of providing this information will subject him, with other persons in competition, to the penalties provided for by criminal and tax legislation in connection with ideological lying (Article 299 of the Criminal Code) and offence against the tax ordinance (Law No. 8.137 of 27 December 1990, 1); § 8 In the case of § 7, the initial basis of calculation is the monthly sum of the daily outstanding balances, the basis of calculation is the amount that was renegotiated during the transaction, without the part amortized on the day of the commercial activity.

§ 1 For the purposes of the provisions of the sale, except in the case of public offers, the value of the transaction to be taken into account for the calculation of the basis of calculation is determined by multiplying the number of shares transferred by the closing price on the day preceding the transaction or, if no trading took place on that day, for the last available closing offer. (Contained in Decree No. 7 412, 2010) § 2 In the case of public tenders, the tender discussed in this article for the calculation of the basis of calculation of the OIF is the price determined on the basis of the process of collecting investment intentions (book-building procedure) or, where applicable, the price determined by the tenderer and specified in the public tender documents. (Contained in Decree No. 7.412 of 2010) Given all these considerations, we find that this is not really an easy tax, as we have already said. The IOF is a complex tax that focuses on different foundations and transactions with specific rates for each of them, in addition to the extra-fiscal objective. Article 8 If it is not possible for tax authorities to calculate the OIF, those entities or institutions shall, by the tenth working day of the month following the event, through intermediaries and qualified participants, provide the information necessary for the calculation of the basis for calculating the basis for calculating derivative financial contract transactions recorded in their systems; and for the collection of taxes: (Included in Decree No. 7.563, 2011). I – on the first working day of the month following the month of calculation, in cases where the basis of calculation is established on the last day of each month, the legal basis of the OIF is also found in various provisions: it contains a constitutional provision (art. 153(V), which is regarded as a tax on the competence of the European Union, and is also provided for by the CTN (Art. 63 et seq.).

In addition, it was created by Law 5.143/66, contains provisions in Law 8.894/94 and is regulated by Decree 6.306/07. II – in the rebate sector, including the sale of credit rights on long-term sales to factoring companies, the basis for calculation is the net value reached: § 18. In the case of a credit transaction the basis for which is determined by the sum of the outstanding daily balances, the OIF shall be charged, calculated from the last day of the month following the determination of the delay, on the date of the total or partial settlement of the transaction or of the occurrence of one of the assumptions referred to in paragraph 7. (Contained in Decree No. 7.487 of 2011) III – the basis of calculation of which is the sum of the daily outstanding balances in the form of paragraphs 18 and § 19, in which the zero rate applies to the daily balances calculated between 3 April 2020 and 26 November 2020 and between 15 December 2020 and 31 December 2020. (Text of Decree No. 10.572, 2020) III – the basis of the vehicle, the value delivered or made available to the user in accordance with the provisions of § 2; and Single Graph. In cases where the contract is concluded under the eradication scheme, the basis for calculating the basis of calculation due in the operations referred to in the table shall be determined by the progressive reimbursement scheme. In the case of© credit transactions carried out through a current account without determining the net present value (revolving© credit), the database is the sound of the daily debt calculated on the last day of each month. § 9 Without excluding the collection of the OIF provided for in paragraph 7, the new values constitute a new basis for calculation if new values are provided or made available to the interested party. Article 7 In the case of renewal, renewal, novation, composition, consolidation, admission of debts and similar transactions, credit transactions for which there is no replacement of the debtor, the basis for calculating the OIF shall be the unpaid value of the turnover previously taxed, and such taxation shall be deemed to be complementary to the previous taxation, by applying the rate in force at the time of the first operation.

IV – in the case of loans, also in the form of financing, subject to the release of resources in instalments, even if the payment is made in instalments, the basis of calculation is the main value of each release: in order to determine the basis for calculating the iof, it is necessary to determine the contractually agreed modality of the operation. or in the form of a fixed loan or©a rotating© loan. Art. 7. The basis of calculation and the reduced rate of the OIF are (Law No. 8.894, 1994, Art. 1, single paragraph, and Law No. 5.172, 1966, Art. 64, point I): § 6 in the case of a cheque authorized for payment and returned due to insufficient coverage, the basis for calculating the OIF is the overdraft value, verified on the respective account, by its debit, in the form determined for the advance to the depositor.