[{"@context":"https:\/\/schema.org\/","@type":"NewsArticle","@id":"https:\/\/jornalcontabil-br.noticiasgoianas.com\/noticia\/governo-recua-sobre-iof-em-fundos-mantem-alta-para-credito-cambio-e-previdencia\/amp\/#newsarticle","url":"https:\/\/jornalcontabil-br.noticiasgoianas.com\/noticia\/governo-recua-sobre-iof-em-fundos-mantem-alta-para-credito-cambio-e-previdencia\/amp\/","headline":"Governo recua sobre IOF em fundos, mant\u00e9m alta para cr\u00e9dito, c\u00e2mbio e previd\u00eancia","mainEntityOfPage":"https:\/\/jornalcontabil-br.noticiasgoianas.com\/noticia\/governo-recua-sobre-iof-em-fundos-mantem-alta-para-credito-cambio-e-previdencia\/","datePublished":"2025-05-23T17:45:13-03:00","dateModified":"2025-05-23T17:45:15-03:00","description":"Governo revoga tributa\u00e7\u00e3o sobre fundos no exterior, mant\u00e9m aumento do IOF em cr\u00e9dito, c\u00e2mbio e previd\u00eancia; mercado alerta para impactos econ\u00f4micos.","articleSection":"Economia","articleBody":"Ap\u00f3s forte rea\u00e7\u00e3o do mercado, o governo federal voltou atr\u00e1s na tentativa de tributar aplica\u00e7\u00f5es de fundos nacionais no exterior, mantendo a al\u00edquota de IOF em 0% para essas opera\u00e7\u00f5es. A revoga\u00e7\u00e3o foi anunciada menos de 24 horas ap\u00f3s a publica\u00e7\u00e3o do Decreto n\u00ba 12.466\/2025, que ainda segue em vigor com uma s\u00e9rie de outras mudan\u00e7as \u2014 estas, mantidas \u2014 e que elevam de forma expressiva a carga tribut\u00e1ria sobre opera\u00e7\u00f5es de cr\u00e9dito, c\u00e2mbio e previd\u00eancia privada. Especialistas alertam para os efeitos econ\u00f4micos e jur\u00eddicos da medida, que afeta empresas de todos os portes e investidores de alta renda. Embora o IOF tenha fun\u00e7\u00e3o extrafiscal, voltada ao controle de mercado, a percep\u00e7\u00e3o \u00e9 de que o decreto foi usado com fim arrecadat\u00f3rio, em meio \u00e0 press\u00e3o por resultados fiscais. Para Marcelo Godke, especialista em Direito Internacional Empresarial, s\u00f3cio do Godke Advogados, a tentativa frustrada de tributar investimentos no exterior j\u00e1 foi suficiente para abalar a confian\u00e7a. \"Mesmo com a revoga\u00e7\u00e3o, o epis\u00f3dio revela o grau de inseguran\u00e7a jur\u00eddica que o pa\u00eds oferece. Temos um desgoverno que age sem previsibilidade. Tributar investimento \u00e9 um tiro no p\u00e9 \u2014 especialmente em uma economia como a nossa\", afirma. O tributarista Ranieri Genari, membro da Comiss\u00e3o de Direito Tribut\u00e1rio da OAB\/Ribeir\u00e3o Preto e consultor tribut\u00e1rio na Evoinc, concorda e aponta que o recuo foi motivado por press\u00e3o do mercado financeiro, diante dos riscos \u00e0 rentabilidade e ao compliance dos fundos. \"Manter a al\u00edquota zero evita distor\u00e7\u00f5es e protege os investidores da volatilidade cambial. Mas o vaiv\u00e9m da pol\u00edtica tribut\u00e1ria refor\u00e7a o clima de incerteza\", avalia. Para o advogado tributarista Eduardo Natal, s\u00f3cio do Natal & Manssur Advogados, o governo est\u00e1 utilizando a flexibilidade do IOF para elevar a arrecada\u00e7\u00e3o sem precisar respeitar as travas constitucionais. \"O aumento entra em vigor imediatamente e atinge em cheio quem depende de financiamento e cr\u00e9dito, al\u00e9m de encarecer opera\u00e7\u00f5es de c\u00e2mbio. O impacto \u00e9 direto sobre o custo do capital e pode ter reflexos de m\u00e9dio prazo na economia real\", alerta. L\u00edvia Heringer, advogada do Ambiel Belfiore Gomes Hanna Advogados, especialista em Direito Tribut\u00e1rio e Contabilidade, entende o decreto amplia o alcance do IOF e onera opera\u00e7\u00f5es estrat\u00e9gicas da economia. \"Mesmo com ajustes, o impacto \u00e9 direto sobre o cr\u00e9dito, o planejamento previdenci\u00e1rio e a competitividade das empresas\", afirma. Ela ressalta que a nova tributa\u00e7\u00e3o do \"risco sacado\" pode afetar o varejo e a ind\u00fastria, ao encarecer negocia\u00e7\u00f5es com fornecedores. Genari tamb\u00e9m questiona a constitucionalidade da equipara\u00e7\u00e3o entre empresas do Simples e grandes grupos. \"A aplica\u00e7\u00e3o da mesma al\u00edquota para realidades t\u00e3o diferentes viola os princ\u00edpios da isonomia e da capacidade contributiva. \u00c9 um campo f\u00e9rtil para judicializa\u00e7\u00e3o\", conclui. Entre as mudan\u00e7as que permanecem em vigor, destacam-se: Cr\u00e9dito empresarial:\u00a0al\u00edquota m\u00e1xima sobe de 1,88% para at\u00e9 3,95% ao ano; Simples Nacional:\u00a0nova al\u00edquota pode chegar a 1,95% ao ano; C\u00e2mbio:\u00a0al\u00edquota \u00fanica de 3,5% para diversas opera\u00e7\u00f5es (cart\u00f5es, remessas, compra de moeda estrangeira); Planos VGBL:\u00a05% de IOF sobre aportes mensais superiores a R$ 50 mil; Opera\u00e7\u00f5es como \"risco sacado\" e \"forfait\":\u00a0am a ser formalmente tributadas a partir de 1\u00ba de junho. Fontes: L\u00edvia Heringer, advogada do Ambiel Belfiore Gomes Hanna Advogados, especialista em Direito Tribut\u00e1rio e Contabilidade. L\u00edvia Heringer Eduardo Natal, s\u00f3cio do escrit\u00f3rio Natal & Manssur Advogados, mestre em Direito Tribut\u00e1rio pela PUC\/SP e presidente do Comit\u00ea de Transa\u00e7\u00e3o Tribut\u00e1ria da Associa\u00e7\u00e3o Brasileira da Advocacia Tribut\u00e1ria (ABAT). Eduardo Natal Marcelo Godke, especialista em Direito Internacional Empresarial, s\u00f3cio do Godke Advogados. Marcelo Godke Ranieri Genari, advogado especialista em Direito Tribut\u00e1rio pelo IBET, membro da Comiss\u00e3o de Direito Tribut\u00e1rio da OAB\/Ribeir\u00e3o Preto, consultor tribut\u00e1rio na Evoinc. Ranieri Genari","keywords":["DIREITO TRIBUT\u00c1RIO"," IOF"," mercado financeiro"," "],"name":"Governo recua sobre IOF em fundos, mant\u00e9m alta para cr\u00e9dito, c\u00e2mbio e previd\u00eancia","thumbnailUrl":"https:\/\/jornalcontabil-br.noticiasgoianas.com\/wp-content\/s\/2025\/05\/reading-glasses-piles-coins-high-view-150x150.jpg","wordCount":"572","timeRequired":"PT2M32S","mainEntity":{"@type":"WebPage","@id":"https:\/\/jornalcontabil-br.noticiasgoianas.com\/noticia\/governo-recua-sobre-iof-em-fundos-mantem-alta-para-credito-cambio-e-previdencia\/amp\/"},"author":{"@type":"Person","name":"Carlos Eduardo","description":"Fa\u00e7o parte da equipe de reda\u00e7\u00e3o e publisher do Jornal Cont\u00e1bil, ajudando na produ\u00e7\u00e3o e publica\u00e7\u00e3o de mat\u00e9rias e not\u00edcias para manter os leitores bem informados sobre concursos, legisla\u00e7\u00e3o e temas do dia a 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Direito

Governo recua sobre IOF em fundos, mantém alta para crédito, câmbio e previdência 6c2j40

Após forte reação do mercado, o governo federal voltou atrás na tentativa de tributar aplicações de fundos nacionais no exterior, mantendo a alíquota de IOF em 0% para essas operações. A revogação foi anunciada menos de 24 horas após a publicação do Decreto nº 12.466/2025, que ainda segue em vigor com uma série de outras mudanças — estas, mantidas — e que elevam de forma expressiva a carga tributária sobre operações de crédito, câmbio e previdência privada.

Especialistas alertam para os efeitos econômicos e jurídicos da medida, que afeta empresas de todos os portes e investidores de alta renda. Embora o IOF tenha função extrafiscal, voltada ao controle de mercado, a percepção é de que o decreto foi usado com fim arrecadatório, em meio à pressão por resultados fiscais.

Para Marcelo Godke, especialista em Direito Internacional Empresarial, sócio do Godke Advogados, a tentativa frustrada de tributar investimentos no exterior já foi suficiente para abalar a confiança. “Mesmo com a revogação, o episódio revela o grau de insegurança jurídica que o país oferece. Temos um desgoverno que age sem previsibilidade. Tributar investimento é um tiro no pé — especialmente em uma economia como a nossa”, afirma.

tributarista Ranieri Genari, membro da Comissão de Direito Tributário da OAB/Ribeirão Preto e consultor tributário na Evoinc, concorda e aponta que o recuo foi motivado por pressão do mercado financeiro, diante dos riscos à rentabilidade e ao compliance dos fundos. “Manter a alíquota zero evita distorções e protege os investidores da volatilidade cambial. Mas o vaivém da política tributária reforça o clima de incerteza”, avalia.

Para o advogado tributarista Eduardo Natal, sócio do Natal & Manssur Advogados, o governo está utilizando a flexibilidade do IOF para elevar a arrecadação sem precisar respeitar as travas constitucionais. “O aumento entra em vigor imediatamente e atinge em cheio quem depende de financiamento e crédito, além de encarecer operações de câmbio. O impacto é direto sobre o custo do capital e pode ter reflexos de médio prazo na economia real”, alerta.

Lívia Heringer, advogada do Ambiel Belfiore Gomes Hanna Advogados, especialista em Direito Tributário e Contabilidade, entende o decreto amplia o alcance do IOF e onera operações estratégicas da economia. “Mesmo com ajustes, o impacto é direto sobre o crédito, o planejamento previdenciário e a competitividade das empresas”, afirma. Ela ressalta que a nova tributação do “risco sacado” pode afetar o varejo e a indústria, ao encarecer negociações com fornecedores.

Genari também questiona a constitucionalidade da equiparação entre empresas do Simples e grandes grupos. “A aplicação da mesma alíquota para realidades tão diferentes viola os princípios da isonomia e da capacidade contributiva. É um campo fértil para judicialização”, conclui.

Entre as mudanças que permanecem em vigor, destacam-se:

  • Crédito empresarial: alíquota máxima sobe de 1,88% para até 3,95% ao ano;
  • Simples Nacional: nova alíquota pode chegar a 1,95% ao ano;
  • Câmbio: alíquota única de 3,5% para diversas operações (cartões, remessas, compra de moeda estrangeira);
  • Planos VGBL: 5% de IOF sobre aportes mensais superiores a R$ 50 mil;
  • Operações como “risco sacado” e “forfait”: am a ser formalmente tributadas a partir de 1º de junho.

Fontes:

Lívia Heringer, advogada do Ambiel Belfiore Gomes Hanna Advogados, especialista em Direito Tributário e Contabilidade.

Lívia Heringer

Eduardo Natal, sócio do escritório Natal & Manssur Advogados, mestre em Direito Tributário pela PUC/SP e presidente do Comitê de Transação Tributária da Associação Brasileira da Advocacia Tributária (ABAT).

Eduardo Natal

Marcelo Godke, especialista em Direito Internacional Empresarial, sócio do Godke Advogados.

Marcelo Godke

Ranieri Genari, advogado especialista em Direito Tributário pelo IBET, membro da Comissão de Direito Tributário da OAB/Ribeirão Preto, consultor tributário na Evoinc.

Ranieri Genari
Carlos Eduardo

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