Brazil has published Decree No. 10.414 of 2 July 2020, which extends the temporary reduction of the financial transactions tax (IOF) rate to 0% on credit transactions. The 0% IOF rate was initially provided from 3 April to 3 July 2020 by Decree 10.305 of 1 April 2020 in response to COVID-19. Under Decree No. 10.414, the 0% IOF rate applies from 3 April to 2 October 2020.