Bolsonaro sanctions payroll exemption until 2023 – News

Bolsonaro sanctions payroll exemption until 2023 – News
Bolsonaro sanctions payroll exemption until 2023 – News

President Jair Bolsonaro sanctioned, this Friday (31), the exemption from the payroll of 17 sectors that employ the most in the Brazilian economy for another two years. The measure was published in an extraordinary edition of the Diário Oficial da União at the end of the night, the last day of validity of the current exemption.

The proposal was approved on December 9 by the National Congress. Bolsonaro traveled with his family for the year-end break without signing the bill’s sanction.

Exemption benefits companies because it reduces the labor charges they pay. The measure consists in exchanging the taxes on employees’ salaries for a tax on sales.

Today, these companies can choose: either they pay a 20% social security contribution on employees’ salaries or a rate ranging from 1% to 4.5% on gross sales.

As a result, sectors with a high level of labor pay less to public coffers. The incentive was created to encourage the hiring of employees and the maintenance of jobs. Together, the civil construction, footwear, textiles, road transport, animal protein and communications sectors employ more than 6 million workers.

Source

Bolsonaro sanctions payroll exemption News

 
For Latest Updates Follow us on Google News
 

PREV Turkish inflation is gone – Portfolio.hu
NEXT Polish OSCE Presidency. Zbigniew Rau: the main idea is to ease civilians