Brazilian companies receiving from foreign clients: exchange contracts, taxes and keeping funds abroad

A Florianópolis software company bills a client in Miami US$19,500 a month. For years the payment arrived at its Brazilian bank, was converted to reais through an exchange contract at the bank's rate, with IOF and a spread, and landed as a figure the founders could never quite reconcile with the invoice. Then their accountant pointed out that the company could keep the dollars abroad.

Two routes for export proceeds

Bring it in. Foreign currency coming into Brazil is converted into reais through an exchange operation (câmbio) with an authorised institution. The operation carries the institution's spread and IOF on foreign exchange. The reais land in your Brazilian account.

Keep it abroad. Brazil's foreign exchange framework, modernised by Law 14.286 of 2021, allows exporters to maintain export proceeds abroad. The company can hold dollars in an account outside Brazil, pay foreign costs from them and bring funds in when it chooses. Holdings abroad above set thresholds are reported to the Central Bank, and the revenue is still taxed in Brazil.

Tax relief on exported services

Revenue from services exported to foreign residents can be exempt from PIS, COFINS and ISS, provided the service's result occurs abroad and the payment comes from abroad, whether converted into reais or kept abroad as the law allows. The details depend on the service and the municipality's ISS rules. The company still pays IRPJ and CSLL on its profit.

IOF

IOF on foreign exchange is charged on conversions. Rates are set by decree and changed several times in 2025. Inbound export receipts generally carry lower rates than many outbound payments. Confirm the current rate with your exchange provider before you plan conversions.

Documents

Keep the contract with the foreign client, each invoice, the NFS-e for the export of services where your municipality requires it, and proof of payment. They support the tax relief and answer questions from your bank or the Receita.

Paying into Brazil: the local rail

Source: Banco Central do Brasil: Pix. Checked when this guide was last updated; the scheme's own page has the current figures.

Where Rivet fits

A Rivet business account accepts registered companies after verification, including Brazilian companies. For exporters keeping proceeds abroad, it gives US account details in the company's own name on every plan, so a Miami client pays by ACH, with euro and sterling details from the Growth plan. Dollars can be held, used for foreign costs, or paid out to Brazil when you choose. Rivet is not a bank; regulated partner institutions hold the funds. Confirm reporting and tax treatment with your accountant.

See the BRL business payments guide.