This amount is exempt from 2023 income tax

the Income tax 2023 Comes with new rules. The reason is that the table has not been updated since 2015. As a result, the number of citizens who have to file reports with the Federal Revenue Service will increase. This is worrying and upsetting to a lot of people.

In his election campaign, Bolsonaro promised voters to implement an amendment Income tax 2023. But, even after four years of rule, nothing was done in that time. In today’s article in Notícias Concursos, you will see that Luiz Inacio Lula da Silva, the elected president of the Workers’ Party, has also made this promise, but it will not be possible to keep it this year.

How is the income tax schedule 2023

It seems that updating the schedule will happen in the coming years. Lula’s strategy is to expand the exemption for taxpayers receiving up to R$5,000. Currently, two bills on revising this tax are being debated in Congress, and one of them is still filibustered in the Senate.

In 2023, Brazilians who earned up to R$1,903.98 per month in 2022 will have to pay tax. The rate will depend on earnings ranging from 7.5% to 27.5%, as per the data below:

• from R$ 1903.99 to R$ 2826.65 – 7.5%;
• from R$ 2826.66 to R$ 3751.05 – 15%;
• R$3,751.06 to R$4,664.68 – 22.5%;
• Over R$4,664.68 – 27.5%.

According to data from Unafisco Nacional (National Association of Tax Auditors of the Federal Revenue Service of Brazil), assuming the tax schedule is updated, the exemption ceiling would be R$4,464.83. The number of exempt Brazilians will rise from 8.7 to 27.9 million.

Under current circumstances, this exemption is a guaranteed benefit for taxpayers who earned less than the maximum in the previous year or even who meet certain requirements. Among these:

• Employees and retirees who earned less than R$28,559.70 in 2022;
• individuals who have a pension, retirement or retirement income below the limit;
• Citizens with serious diseases such as cancer, HIV, severe heart disease, mental illness, blindness and other diseases.