Impact of IOF changes on Corporate Treasury in Brazil

The new CXC report on Corporate Treasury and FX in Brazil has been published and is now available on the CompleXCountries.com  website.The report covers current corporate treasury practices in relation to :

• Changes to IOF tax and its impact on FX, loans, and domestic cash structures
• FX transaction practices 
• Cross-border funding and capital structure considerations
• Potential introduction of dividend withholding tax
• Viability of including Brazil in a notional pooling structure under new rules
• Use of boletos and e-boletos for collections
• Adoption and growth of the Pix payment system
• FX hedging, interest rates and BRL volatility
• Use of structured products and offshore hedging
• Investment of surplus cash
• Payroll practices 
• Tax payments
• Working Capital Finance
• Bank Relationships: local vs. global banks and service levels
• Regulatory, tax and operating environment in Brazil

Service providers discussed  in the full report: Bradesco, Itaú, Banco do Brasil, Santander, Citi, JPMorgan, Bank of America, BNP Paribas, Bank Mendes Gans, Deutsche Bank, BBVA, Caixa, FXall and 360T

You can read the commentary (log in required) or download the detailed report (subscribers only) here: CXC Report: Treasury & FX in Brazil