Brazil Senate extends payroll tax exemption for companies to avoid job losses

General view of Brazil's Federal Senate during a session in Brasilia, Brazil, December 8, 2021. REUTERS/Adriano Machado/File Photo

BRASILIA (Reuters) - Brazil's Senate on Thursday approved the extension of a payroll tax exemption for 17 economic sectors until December 2023, a measure seen as necessary to save jobs during a period of stagnant growth caused by the coronavirus pandemic.

The bill has already passed the lower chamber of Congress and advances to President Jair Bolsonaro to be signed into law.