Keep your tin-foil, it's not a conspiracy. Despite the successful system, Brazil has a tradition of charging taxes on every financial transaction, including mon

Keep your tin-foil, it's not a conspiracy. Despite the successful system, Brazil has a tradition of charging taxes on every financial transaction, including money transfers. This system makes this type of tax incredibly easy, and such tax has been discussed multiple times. Also, a consolidated report (no information on individual transactions) gets sent to the Brazilian IRS just like the US does with stocks and mutual funds sales.