Brazil's Senate is reportedly considering a draft bill to introduce new individual income tax brackets and rates, which includes increasing the number of brackets from five to nine and increasing the top rate from 27.5% to 40%. The brackets and rates would be as follows (monthly income):

• up to BRL 3,300 - 0%
• BRL 3,300.01 up to 4,000 - 5%
• BRL 4,000.01 up to 6,500 - 10%
• BRL 6,500.01 up to 9,000 …