A incidência do IOF-crédito em contratos de conta corrente

Abstract

The present study aims to assess the constitutional, legal, and infralegal limits on the incidence of the Tax on Credit, Exchange, and Insurance Transactions, or those related to Securities (“IOF”), specifically concerning credit transactions (“IOF-Crédito”) within the scope of account agreements between non-financial companies. In addressing the issue, the paper discusses the concept and characteristics of account agreements that justify the non-incidence of IOF-Crédito. In developing the topic, the recent Supreme Federal Court (STF) ruling in general repercussion under Theme 104 is considered, to explore the possibility of extending the IOF’s incidence, as provided in Article 13 of Law No. 9.779, dated January 19, 1999, to any value transfer operation, beyond the expressly stated loan transactions in the law. For this purpose, the prevailing doctrinal understanding is compared with decisions from both administrative and judicial spheres to evaluate the scope of the said provision in account agreements. Furthermore, a comparison is made between loan agreements and account agreements to delineate their legal and operational distinctions, ultimately concluding the non-applicability of IOF-Crédito to operations conducted within account agreements, as these do not trigger the tax’s incidence under the current legal framework