Brazil IOF Calculator: Tax on Foreign Exchange Operations
Work out the Brazilian IOF (Imposto sobre Operações Financeiras) on a foreign-exchange operation — the federal tax applied to currency purchases, card spending abroad and remittances — and the total cost including it.
Adjust the inputs and select Calculate for a full breakdown.
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | IOF | Amount plus IOF |
|---|---|---|
| 3.5% of R$10,000 (R$350) | $350.00 | $10,350.00 |
| 1.1% of R$5,000 (some card ops) | $55.00 | $5,055.00 |
| 3.5% of R$2,000 | $70.00 | $2,070.00 |
| 0.38% of R$20,000 (some remittances) | $76.00 | $20,076.00 |
How This Calculator Works
Enter the operation amount and the applicable IOF-câmbio rate. The calculator shows the IOF charged and the total cost. IOF is a federal tax on financial operations — foreign exchange, credit, insurance and securities — collected automatically by the bank, card issuer or broker at the time of the transaction, so it's added on top of the amount you transact.
The Formula
Percentage Add-On
Rate is the tax or tip percentage applied to the amount
Worked Example
At 3.5% on a R$10,000 foreign-exchange operation, the IOF is R$350, for a total of R$10,350. IOF (Imposto sobre Operações Financeiras) is a Brazilian federal tax levied on various financial operations. On foreign exchange (IOF-câmbio) it applies to buying foreign currency, spending on an international card, and sending money abroad — at rates that depend on the operation type and that the government can change relatively quickly (it's also used as a policy lever). It's withheld at source, so it inflates the effective cost of any cross-border transaction.
Key Insight
IOF is a pervasive Brazilian tax that quietly raises the cost of borrowing, insuring and especially transacting in foreign currency, and a few points clarify it. It's a federal tax on financial operations with several distinct bases, each with its own rates: IOF-câmbio on foreign exchange (the focus here), IOF-crédito on loans and credit (a fixed percentage plus a small daily rate up to a cap), IOF on insurance premiums, and IOF on securities/short-term investments (notably the regressive IOF that taxes fixed-income gains heavily if redeemed within 30 days, then disappears). A key feature is that the government can change IOF rates by decree, often with little notice, both to raise revenue and as a tool to influence the exchange rate and capital flows — so the foreign-exchange rates in particular have moved repeatedly and have scheduled changes, meaning you must use the rate current for your operation and type. For individuals, the most visible IOF is on international spending: buying foreign currency in cash, using a Brazilian credit/debit card abroad, or remitting money overseas each carry an IOF-câmbio rate, withheld automatically by the bank or card issuer, on top of the exchange spread — so the true cost of a foreign purchase is the FX rate plus the spread plus IOF. It's not generally recoverable; it's a cost of the transaction. This calculator shows IOF on a single operation amount at the rate you set and the total cost; for an accurate figure, pick the correct rate for your operation type (card, cash, remittance) and date, since IOF-câmbio rates differ by use and change over time.
Frequently Asked Questions
How is IOF calculated?
Multiply the operation amount by the applicable IOF rate. On a R$10,000 foreign-exchange operation at 3.5%, the IOF is R$350, for a total of R$10,350. It's withheld automatically by the bank or card issuer at the time of the transaction, on top of the amount and the exchange spread.
What is IOF?
Imposto sobre Operações Financeiras — a Brazilian federal tax on financial operations: foreign exchange, credit, insurance and securities. Each base has its own rates. It's collected at source by the bank, card issuer or broker, so it adds to the cost of borrowing, insuring and transacting in foreign currency.
What operations does IOF-câmbio apply to?
Foreign-exchange operations: buying foreign currency in cash, spending on a Brazilian card abroad, and sending money overseas. Each has an IOF-câmbio rate that depends on the operation type. For individuals, international card spending is the most commonly encountered IOF, withheld automatically on each foreign transaction.
Why do IOF rates change so often?
Because the government can adjust IOF rates by decree, often quickly. Besides raising revenue, IOF is used as a policy lever to influence the exchange rate and capital flows. Foreign-exchange rates in particular have been changed repeatedly and have scheduled adjustments, so always use the current rate for your operation and date.
Can I get IOF back?
Generally no — IOF is a cost of the transaction, not a refundable or creditable tax for individuals. It's withheld at source and isn't recovered. For foreign spending, it adds to the exchange rate and the provider's spread, so comparing the all-in cost (rate + spread + IOF) is the way to find the cheapest option.
Related Calculators
Methodology & Review
The IOF is the rate applied to the operation amount; the total is the amount plus the IOF. It models a single IOF-câmbio rate on a foreign-exchange operation and does not handle the different IOF rates for credit, insurance or securities, nor the recent scheduled changes to the foreign-exchange rates.
Written by Ugo Candido · Last updated May 22, 2026.