Brazil Senate Approves Payroll Tax Exemption Until 2023

Brazilian senators approved this Thursday in a symbolic vote a bill that extends the payroll tax exemption until 2023.

• Text from lower house was approved at Senate without changes and is expected to be signed into law by President Jair Bolsonaro this year
• Extension benefits 17 sectors of the economy
• Companies pay rates of 1%-4.5% on gross revenue following the bill instead of a 20% social security contribution on employees’ salaries
• NOTE: Brazil House Cmte Approves Payroll Tax Exemption Until Dec. 2023

Original Story:

Senado aprova desoneração da folha até 2023; texto vai à sanção

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