Brazil approves minimum wage increase and tax exemption.
Approval of minimum wage increase and income tax exemption in Brazil.
00:00:00 Approval of minimum wage increase and tax exemption - Senate and Chamber of Deputies pass a measure that adjusts the minimum wage based on economic growth.
The chamber approved the provisional measure that increased the minimum wage to 1320 on May 1st.
The Senate included a permanent policy for adjusting the minimum wage based on economic growth.
The minimum wage will now be adjusted every January based on the previous year's inflation and GDP.
00:01:03 Approval of minimum wage increase and income tax exemption - 23/08/23.
📈 The proposed law increases the minimum wage to 1,461 reais in 2024.
📉 The income tax exemption threshold is expanded to 2,112 reais, potentially reaching 2,640 reais with predicted deductions.
💸 The government estimates a loss of 3.2 billion reais in revenue in 2023 due to these changes.
00:02:09 Approval of minimum wage increase and exemption of income tax in Brazil. Concerns raised about the decrease in revenue from income tax and the inclusion of offshore charges in another MP.
📢 The video discusses the approval of an increase in the minimum wage and exemption from Income Tax in Brazil.
🔍 The issue raised by Deputy Gaúcho Pompeu de Matos is that elevating the Income Tax table reduces revenue, and compensating for this loss by charging offshore entities may not be sufficient.
💰 The concern expressed is that there may not be sufficient financial support to increase the Income Tax table, leading to a potential reduction in the tax bracket in the future.
00:03:14 Approval of minimum wage increase and income tax exemption.
⭐️ The increase in the minimum wage has been approved and will be implemented soon.
💰 The income tax exemption has also been approved, providing relief for workers.
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