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Brazil Revises Monthly Individual Tax Brackets and Employee Social Security Contribution Table

16 February 2024

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Approved Changes

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Brazil

Brazil has published Provisional Measure No. 1.206 of 6 February 2024, which revises the monthly individual income tax brackets/rates as follows with effect from the month of February 2024: up to BRL 2,259.20 - 0% from BRL 2,259.21 to 2,826.65 - 7.5% from BRL 2,826.66 to 3,751.05 - 15.0% from BRL 3,751.06 to 4,664.68 - 22.5% over BRL 4,664.68 - 27.5% Brazil has also published Ordinance No. 2 of 11 January 2024 in the Official Gazette, which sets out the progressive social security contribution table for 2024 as follows: up to BRL 1,412.00 - 7.5% from BRL 1,412.01 to 2,666.68...