Lula HANGS the gavel today (23/01) regarding Income Tax: it's a party!

Lula announces adjustment to income tax exemption: relief for those earning up to two minimum wages in 2024.

On January 23, a surprising decision by President Luiz InĂ¡cio Lula da Silva (PT) brought relief and joy to millions of Brazilians.

The president announced an adjustment to the Income Tax exemption for those who earn up to two minimum wages.

This update to the IR exemption table is a measure that aims to guarantee the real gain of the minimum wage in 2024, which was readjusted to R$1,412 from the beginning of the year. Next, find out more about.

Income Tax: President Lula surprises with measure that benefits the most economically vulnerable. (Credit: @jeanedeoliveirafotografia / pronatec.pro.br).

Review of the Income Tax exemption range

The Minister of Finance, Fernando Haddad, in a recent interview on the program "Roda Viva", made the surprising announcement of a review of the Income Tax exemption range.

The increase in the minimum wage was the main factor that motivated this decision. With the adjustment of the minimum wage to R$1,412, many Brazilians who earn up to this amount would be taxed again.

However, President Lula guaranteed that this situation will not happen, confirming an adjustment in the exemption range to R$2,824 in 2024.

Provisional measure

The previous year, the government had implemented a Provisional Measure to change the Income Tax exemption range.

Namely, the minimum amount for exemption went from R$1,903.98 to R$2,112, in addition to a monthly deduction of R$528 at source to exempt those who received up to two minimum wages.

However, with the increase in the minimum wage to R$2,824, these people would be taxed again. President Lula made it clear that this would not be the reality, ensuring the update in the exemption range.

Benefit for Brazilians

In short, the Income Tax exemption for those earning up to two minimum wages is a measure that brings significant benefits to Brazilians.

In this sense, the increase in the minimum wage and the update of the exemption range ensure that people with lower incomes are not burdened with taxes.

In other words, the measure provides financial relief and contributes to improving the quality of life of these citizens.

President’s commitment

In an interview with the Bahian radio station MetrĂ³pole, the president reaffirmed his commitment to exempting all those who earn up to R$5,000. According to the president, this should occur until the end of his term.

Furthermore, Lula highlighted the importance of making the necessary adjustments to ensure a fairer distribution of the tax burden.

Furthermore, the president defended taxation on dividends distributed to shareholders of publicly and privately held companies, emphasizing the need for equity in the tax system.

Public opinion

As expected, the news of the adjustment to the Income Tax exemption was received with enthusiasm by the Brazilian population.

Many people who earn up to two minimum wages expressed relief and gratitude to President Lula for this measure.

Many see the income tax exemption for this income bracket as a form of social justice and of easing the burden of taxes on the most economically vulnerable.

Take advantage of the new Income Tax exemption bracket

The readjustment of the Income Tax exemption for those earning up to two minimum wages is a measure that brings significant benefits to Brazilians.

This update to the IR exemption table, in accordance with the minimum wage adjustment, alleviates the tax burden on people with lower incomes.

President Lula’s commitment to exempt all people who earn up to R$5,000 until the end of his term demonstrates his concern for social justice and the search for a more equitable tax system.

The population has received this measure with enthusiasm, as it represents progress in the search for a more egalitarian society.

Find out more about Income Tax: Income Tax Declaration will require new documents in 2024: check the updated list!

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