06/02/2024 – 23:59
The federal government announced, on Tuesday night (6), the increase in the Personal Income Tax (IRPF) exemption range to two minimum wages. It is the second increase in the exemption since the beginning of this government.
The exemption ceiling, which had been frozen at R$1,903.98 since 2015, rose in May 2023 to R$2,640.00 and now goes to R$2,824.00. “The lack of updating the table, over so many years, has caused Brazilians to pay more and more Income Tax, taking money away from families,” stated the Ministry of Finance.
As the ministry explained, taxpayers with income of up to R$2,824.00 per month will benefit from the exemption because, from this income, the simplified discount of R$564.80 is subtracted, resulting in a monthly calculation base of R$ 2,259.20, that is, exactly the maximum limit of the zero rate range of the new table.
Provisional Measure No. 1,206/24, with the amendment, was forwarded to the National Congress this Tuesday. The MP, however, is already published in the Official Gazette and, therefore, is already valid. However, it needs to be ratified by the National Congress within 120 days.
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