WHAT IS IOF?
IOF is an important tool for the government, which uses it to monitor and, in some cases, influence the economy. For example, adjusting the tax rate can stimulate or discourage certain financial activities, such as the use of credit or the purchase of foreign currency.
Main situations in which IOF is charged:
Credit operations: Loans, financing, and the use of overdraft.
Exchange: Buying and selling foreign currency, and international purchases (with credit card, for example).
Insurance: Applies to various types of insurance.
Investments: Withdrawals of financial applications made in less than 30 days.