In Brazil, non-resident investors trading in the cash equities market (stock market) on a Brazilian exchange are subject to specific tax rules established by the Brazilian Federal Revenue Service. These rules vary depending on whether your tax domicile is in a jurisdiction considered to be a tax haven by Brazilian regulations.
The full list of jurisdictions identified as a Tax Haven by Brazilian regulations can be found here: What jurisdictions are considered a Tax Haven for Brazilian tax purposes?
The following taxes apply to you based on your status as a tax haven or non-tax haven resident determined according to local Brazilian regulations:
Types of taxes:
| Tax Type | Non-Tax Haven Resident | Tax Haven Resident |
| Trade Withholding | Exempt | 0.005% on Regular Trades1 / 1% on Day Trades1 |
| Trade Capital Gains | Exempt | 15% on RegularTrades1 / 20% on Day Trades1 |
| Dividends | 10% Beginning Jan 1, 2026 | 10% Beginning Jan 1, 2026 |
| Interest on Capital | 17.5% | 25% |
| Interest on Dividends/Interest on Capital | 17.5% | 15-252 |
| Mergers & Delistings with Redemptions | 15% | 15-22.5%3 |
| Stock Splits | Exempt | Exempt |
1Regular trades and day trades are identified by the exchange according to local Brazilian regulations.
2Progressive rates are dependent on the holding period of the security.
3Progressive rates are dependent on the total amount of capital gain.