The Brazilian Superintendence of Private Insurance (SUSEP) reported that a legislative decree published in Brazil’s Official Gazette has immediate effect and suspends three 2025 decrees that had changed the rules for the Tax on Financial Transactions (IOF). The measure restores the wording of Decree 6.306/2007, returning IOF treatment to the original 2007 framework. The suspended decrees are Nos. 12.466, 12.467 and 12.499 of 2025, following a decision by the National Congress. With the original rates reinstated, Article 22(1)(e) of Decree 6.306/2007 again provides a reduced IOF rate of 0% for transactions where premiums are allocated to fund life insurance plans with survival coverage, including Vida Gerador de Benefício Livre (VGBL) plans.
Brazilian Superintendence of Private Insurance (SUSEP) 2025-06-27
Brazilian Superintendence of Private Insurance reports reinstatement of 2007 IOF rules including a 0% rate for VGBL-related life insurance premiums
The Brazilian Superintendence of Private Insurance (SUSEP) announced the suspension of three 2025 decrees affecting the Tax on Financial Transactions (IOF), reverting to the 2007 framework. This reinstates a 0% IOF rate for transactions funding life insurance plans with survival coverage, including Vida Gerador de Benefício Livre (VGBL) plans, as per Decree 6.306/2007.