Brazil Planning to Increase Minimum Monthly Salary for 2027

The Brazilian government has announced a proposal to increase the minimum monthly salary from BRL 1,621 to BRL 1,717 in 2027 as part of the Budget for 2027. With the increase in the minimum monthly salary, the bracket thresholds for the progressive social security contribution rates would be adjusted accordingly, including an increase in the first bracket (7.5%) threshold to BRL 1,717. Further increases to BRL 1,812 in 2028, BRL 1,913 in 2029, and BRL 2,020 in 2030 are forecasted, although t…