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Government Wants to Massively Raise Income Tax Exemption to R$4’990

By Xiu Ying, Contributing Reporter

RIO DE JANEIRO, BRAZIL - In the wake of the House of Representatives, the Federal Senate also intends to vote changes in the Brazilian tax system.

MDB leader's bill in the Senate, Eduardo Braga (Amazonas State), increases the range of exemption from Personal Income Tax (IRPF) to five minimum wages (R$4,990.00).

To offset the drop in revenue, the bill ends the exemption that is given today for profits and . . .

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