Export tax and taking money out of the country

flowtec9000 wrote:

Dear all,

maybe some of you have heard about the new law, in effect from January 1 2016, that any foreign transactions are now subject to taxation (25% or something...). Does anyone know whether this also applies if you are simply taking money out of the country in a suitcase? I mean, I can't really imagine, but then, they tend to come up with some stuff like this all the time.

Thanks!

Hello flowtec9000,

I haven't heard anything about such a tax as of yet. Are you sure you aren't confusing it with the new tax on international travel expenses that came in around the time that you mentioned???

This new 25% tax is levied on the purchase of touristic services (not including meals, travel or transportation which are paid for while abroad either in cash or by credit card) from Brazil by way of bank transfer or credit card.  Read this:  http://www.viajenaviagem.com/2016/01/no … re-viagens

Just remember that you are REQUIRED BY LAW to declare any amount of currency you are carrying when leaving Brazil when it is equivalent to or exceeds R$10 thousand regardless of what currency it may be in. (USD $2,526 /  €2,294 / £1813).  Failing to declare that you are carrying more than this will result in confiscation of the currency and possibly criminal charges as well. Don't forget that airport security now have dogs trained to scent currency as well as drugs and bombs.

Travel with large amounts of cash is extremely dangerous anyway and should not be attempted.

Cheers,
James
expat.com Experts Team

Thank you James - helpful as always .