The Brazilian government has issued a release announcing that President Luiz Inácio Lula da Silva signed Law 14,848/2024 on 1 May 2024, which converts Provisional Measure No. 1.206 of 6 February 2024 into law. As previously reported, this provides for a revision of the monthly individual income tax brackets/rates as follows with effect from the month of February 2024:

• up to BRL 2,259.20 - 0%…