Brazil has published Decree No. 11.864 of 27 December 2023, which increases the minimum monthly salary from BRL 1,320 to BRL 1,412 with effect from 1 January 2024. With the change in the minimum monthly salary, the bracket thresholds for the progressive social security contribution rates are to be adjusted accordingly, including an increase in the first bracket (7.5%) threshold to BRL 1,412. An ordinance adjusting the bracket threshold is expected to be published in the near future.