| additional IOF (FS-LOC-BR) |
A type of financial operation tax that banks calculate when a certain activity takes place.
The activities that require banks to calculate additional IOF include the following:
When a bank disburses a loan (fully or partially), the bank calculates additional IOF on the disbursement amount.
Banks calculate additional IOF when customers have an overdraft in a checking account. The calculation is based on the amount of the negative balance.
Additional IOF is known in Portuguese as "IOF adicional".