The Brazilian President’s Office Feb. 16 announced an increase in the monthly minimum wage, and a new tax exemption for those earning monthly income under a specified amount. The announcement includes: 1) an increase in the monthly minimum wage to 1,320 Brazilian reals (US$254.41), effective May 1; and 2) an individual income tax (IRPF) exemption for monthly income up to 2,640 reals (US$508). The announcement also includes that the President is committed to progressively increasing the new monthly exemption to 5,000 reals (US$964). [Brazil, Office of the President, 02/16/23]
Reference: View Announcement. View Index.
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