The Finance Minister of Brazil declared that the government has announced to cut some tax on foreign loans and from the Tax on Financial Transactions (IOF) on 4 June of 2014 and introduced a new Decree No. 8263The 6% IOF will no  longer applicable  on short-term loans which will mature between 180 days and 360 days. This will help small banks and companies of Brazil to increase capital flow and control overseas credit.