Brazil's Finance Minister stated: "We are implementing minimum wage growth above inflation and adjusting the personal income tax rate schedule to benefit those earning less than 5,000 reais per month. At the same time, we are requiring high-income earners to bear a heavier tax burden to compensate for the reduced tax revenue from those who will no longer pay taxes." 140,000 ultra-wealthy Brazilians have begun paying taxes, thus exempting 15 million Brazilians earning less than 5,000 reais per month from taxes.
