Brazil Introduces Payroll Tax Cuts to Promote Employment

Brazil has published Provisional Measure No. 905 of 11 November 2019, which includes measures for the so-called Green and Yellow Employment Contract program. The program is designed to promote employment in Brazil, especially for younger persons, and includes several payroll-related tax benefits for employers. For employers hiring qualified employees under the program, the benefits include:

• An exemption from the 20% social security contribution;
• An exemption from contributions for workforce…