Brazil Gazettes Ordinance Setting 2024 Social Security Contribution Thresholds, Rates

The Brazilian Official Gazette Jan. 12 published Ordinance No. 2, setting the 2024 social security contribution thresholds and rates. The ordinance includes measures setting progressive employee contribution rates of: 1) 7.5 percent for income up to 1,412 Brazilian reals (US$284); 2) 9 percent for income between 1,412 reals and 2,667 reals (US$536); 3) 12 percent for income between 2,667 reals and 4,000 reals (US$804); and 4) 14 percent for income between 4,000 reals and 7,786 reals (US$1,566). The ordinance enters into force the same date and applies from Jan. 1. [Brazil, Official Gazette, 01/12/24]

Reference: View Ordinance No. 2 of ...