Brazil Lower House Approves Bill on Minimum Wage, Income Tax

Provisional measure that increases the minimum wage and expands the range for income tax exemption was approved by lower house on Wednesday night, according to Agencia Camara de Noticias.

• Text creates policy for valuing the minimum wage and provides for a real increase equivalent to the positive variation of GDP in the two years prior to the new value being in effect
• Income tax exemption range was raised to 2,112 reais from 1,903.98 reais, effective since May this year
• Provisional measure will now be sent to the Senate
• NOTE: Brazil Politics: Government Eyes Tax Funds as Fiscal Bill Passes ...