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Brazil Confirms Minimum Monthly Salary and Individual Tax Brackets from May 2023

12 September 2023

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Approved Changes

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Brazil

Brazil has published Law No. 14.663 of 28 August 2023 in the Official Gazette, which includes measures regarding the minimum monthly salary (wage) and the monthly individual income tax brackets/rates. Regarding the minimum salary, Law No. 14,663 provides that the minimum monthly salary is BRL 1,320.00 with effect from 1 May 2023, confirming announcements on the minimum monthly salary earlier in the year. The law also provides that the minimum daily and hourly salary are BRL 44.00 and BRL 6.00, respectively, from 1 May 2023. Further, Law No. 14,663 provides that the minimum salary will be adjusted for inflation from...