Bolsonaro may edit MP to correct income tax table

Bolsonaro has asked the Minister of Economy, Paulo Guedes, for an immediate solution for the correction of the income tax table.| Photo: Julio Nascimento/PR

President Jair Bolsonaro grew tired of waiting for income tax reform in Congress and commissioned a study from the Ministry of Economy to correct the IR table for individuals later this year, via an interim measure , reports the newspaper O Estado de S. Paulo. The economic team will study the possible margin in the budget to correct the IR table, estimating the extent of the loss of income.

Re-election candidate Bolsonaro is thus trying to keep a promise made during the previous campaign, when he was elected saying that he would widen the range of exemption from the IR to five minimum wages, which is equivalent today around R$6,000. Currently, only people with an income of less than BRL 1,900 per month are exempt from IR.

The IR reform bill, of which the Minister of Economy, Paulo Guedes, is one of the main supporters, is blocked in the Senate, after being approved by the deputies last September. In addition to providing for the return of the taxation of profits and dividends with a rate of 15%, the draft establishes the correction of the IR table and the increase of the exemption range to R$2.5 thousand.

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