Brazil’s social security tax brackets were adjusted for 2023, but rates remained unchanged, according to an interministerial ordinance published in the country’s gazette.
The maximum taxable monthly income for private-sector employees is 7,507.49 reais (US$1,453.78), up from 7,087.22 reais in 2022, the ordinance (Portuguese) from the ministries of Labor and Social Security and finance published Jan. 11 said. Tax rates continue to range from 7.5% to 14%.
Public-sector employees are subject to some additional tax brackets, the highest of which has a 22% rate and starts at monthly income of 50,140.33 reais in 2023, up from 47,333.46 reais in 2022. ...
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