Brazil Increases Minimum Monthly Salary Impacting Social Security Contributions

Brazil has published Provisional Measure No. 919 of 30 January 2020, which increases the minimum monthly salary from BRL 1,039 to BRL 1,045 with effect from 1 February 2020. With the increase, the brackets for Brazil's new progressive social security contribution rates are correspondingly adjusted as follows:

• up to BRL 1,045.00 - 7.5%
• from BRL 1,045.01 to 2,089.60 - 9%
• from BRL 2,089.61 to 3,134.40 - 12%
• from BRL 3,134.41 to 6,101.06 - 14%

The above rates apply from 1 March 2020 ({News-20…