Brazil: Proposed Tax Changes Include Increased Tax on High Earners and Income Tax Exemption Expansion

Edited by: Elena Weismann

The Brazilian government is proposing significant tax reforms. These changes aim to increase social justice within the tax system.

One key proposal involves increasing the income tax rate to 10% for high earners. Simultaneously, the government plans to expand income tax exemptions. This would benefit individuals earning up to R$5,000.

These proposals are currently under consideration in the Chamber of Deputies. The government also proposed exempting the entire basic food basket from taxation.

Sources

  • Diario de Pernambuco

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