On 1 April 2015, Brazil published in the Official Gazette Normative Instruction 1,558/2015, adjusting the annual individual income tax bracket thresholds for 2015. The number of brackets and rates are not changed.
The new annual income brackets and rates are as follows:
- up to BRL 22,499.13 - 0%
- 22,499.14 up to 33,477.72 - 7.5%
- 33,477.73 up to 44,476.74 - 15.0%
- 44,476.75 up to 55,373.55 - 22.5%
- over BRL 55,373.55 - 27.5%
The new bracket thresholds apply from 1 April 2015 through 31 March 2…