DECREE NO- 7,563, OF September 15, 2011

Altera the Decree No. 6,306, of December 14, 2007, which regulates the Tax on Credit, Exchange, and Insurance Operations, or relative to Securities or Securities-IOF.

THE CHAIRPERSON OF THE REPUBLIC, in the use of the assignments that confer upon him the arts. 84, inciso IV, and 153, § 1º, of the Constitution, and with a view to the provisions of Law No. 5,143 of October 20, 1966, in Decree-Law No. 1,783 of April 18, 1980, in Law No. 8,894 of June 21, 1994 and in the Provisional Measure No. 539, of 26 of july 2011,

D E C R E T A:

Art. 1º Decree no 6,306, of December 14, 2007, passes on the invigoration increased of the following device:

" Art. 32-C. The IOF will be charged to the aliquot of one percent, on the adjusted notional value, in the acquisition, sale or maturity of financial derivative contract concluded in the Country that, individually, result in increased currency exposure sold or reduced of the currency expo purchased.

§ 1º Powers will be deducted from the base of computation ascertained daily:

I- the somatory of the notional value adjusted in the acquisition, sale or maturity of financial derivative contracts concluded in the Country, on the day, and which, individually, result in increased foreign exchange exposure or reduction of foreign exchange exposure sold;

II-the currency expo net purchased adjusted net adjusted on the previous business day;

III-the reduction of net foreign exchange exposure sold and the increase in net foreign exchange exposure purchased in relation to the previous business day, not resulting from acquisitions, sales or maturities of contracts of financial derivative.

§ 2º The basis of calculation shall be ascertained in US dollars of the United States of America and converted into national currency for incidence purposes of the tax, as per closing exchange rate of the calculation basis day of the calculation basis released by the Central Bank of Brazil- PTAX.

§ 3º In the case of contracts of financial derivatives that have per object the exchange rate of another foreign currency other than the United States dollar of America relative to the national currency or interest rate associated with other foreign currency other than the US dollar of America in relation to the national currency, the adjusted notional value and foreign exchange exposures will be ascertained in the foreign currency itself and converted into US dollars from the United States for ascertaining the base of calculation.

§ 4 ° For the purposes of the provisions of this article, it is understood to:

I-notional value tuned-the value of contract reference-notional value-multiplied by the variation in the price of the derivative in relation to the change in the price of the foreign currency, being that, in the case of acquisition, sale or partial maturity, the adjusted notional value will be ascertained proportionally;

II-exhibition currency exchange sold-the sum of the notional value adjusted from the holder's financial derivative contracts that result in gains when there is appreciation of the national currency relative to the foreign currency, or losses when there is depreciation of the national currency with respect to foreign currency;

III-currency exposure purchased-the sum of the notional value adjusted from the holder's financial derivative contracts that result in losses when there is appreciation of the national currency relatively to foreign currency, or gains when there is depreciation of the national currency relative to the foreign currency;

IV-net foreign exchange exposure-the maximum value between zero and the result of the difference between the foreign exchange exposure sold and the currency exposition purchased;

V-net foreign exchange exposure purchased-the maximum value between zero and the result of the difference between the currency exposure purchased and the currency exposure sold;

VI-net foreign exchange exposure adjusted-the value maximum between zero and the result of the difference between the foreign exchange exposure purchased, increased by US$ 10,000,000.00 (ten million US dollars), and the currency expo sold;

VII-contract of financial derivative-contract that it has as object foreign currency exchange rate in relation to the national currency or interest rate associated with foreign currency in relation to the national currency; and

VIII-date of acquisition, sale, or maturity-date on which the currency exposure of the financial derivative contract is initiated or closed, in whole or in part, by the determination of parameters used in the calculation of the settlement value of the respective contract.

§ 5º aliquot gets reduced to zero in the operations with financial derivative contracts not included in the caput.

§ 6º The taxpayer of the tribute is the holder of the financial derivative contract.

§ 7º Are responsible for the ascertainment and gathering of the taxing the entities or institutions authorized to register the financial derivative contracts.

§ 8º In the impossibility of ascertaining of the IOF by the tax officers, such entities or institutions shall, until the tenth working day of the month subsequent to the occurrence of the generator fact, by means of the intermediates and enabled participants, the information necessary for the ascertaining of the base of calculation of the transactions with financial derivative contracts registered in their systems, and for the pick-up of the tribute:

I-to the taxpayer resident or domiciled in the Country;

II-to the legal representative of the resident taxpayer or domiciliated abroad; and

III-ao fund manager and investment clubs, for which the information that deals with § 8º can be made available on a daily basis.

§ 9º Characterization impossibility of ascertaining or charging, respectively, when the entities or institutions of which treats § 7º do not possess all the information necessary for ascertaining the basis of calculation, including information from other entities authorised to register financial derivative contracts, or do not possess access to the financial resources of the taxpayer required to collect tax.

§ 10. The information referred to in § 8º may be made available in electronic form, and the first information, regarding the generating facts occurring in the period from July 27, 2011 to November 30, 2011, shall be sent or made available by December 14, 2011. " (NR)

Art. 2º This Decree comes into effect on the date of its publication.

Art. 3º Stay revoked the following devices of Decree No. 6,306, of December 14, 2007:

I-the inciso VII of the art caput. 9º;

II-the incisos III and IV of the art caput. 16;

III-the inciso II of the art caput. 23; and

IV-the art. 32-B.

Brasilia, September 15, 2011; 190º of Independence and 123º of the Republic.

DILMA ROUSSEFF

Guido Mantega