Taxation on International Investment Funds

Learn in detail about the new tax regime on capital gains for IRS purposes, obtained from the redemption, liquidation, or sale of International Investment Funds, depending on the holding period of the asset.

The tax regime presented below does not reflect the tax consultancy service provision for the customer, nor can it be interpreted as such.

The information does not exempt you from consulting the legislation in force at any time, nor does it constitute a guarantee that it will not be altered at any time before the date of sale. This framing is non-binding for tax and judicial authorities and does not guarantee that these agencies will not be able to adopt contrary positions. It does not exempt consultation of Decree Law 31/2024, of June 28.

Holding period	Previous Tax Rate (until 06/28/2024)	New Tax Rate (after 06/29/2024)
Under 2 years	28%	28%
Between 2 and 5 years	28%	25.2% (10% reduction on initial taxation)
Between 5 and 8 years	28%	22.4% (20% reduction on initial taxation)
More than 8 years	28%	19.6% (30% reduction on initial taxation)

This reduction in the special IRS rate applies to assets held on the date the tax regime comes into force. Holding international Investment Funds for at least two years benefits from the reduction of the special IRS rate under the terms indicated above, in the event of disposal.

Dividends received are excluded from this reduction in the special IRS rate and continue to be taxed at a rate of 28%.

Information updated on 02.13.2025.