On December 15, 2023, the Ministry of Labor fixed the minimum statutory wage (“SBU”) for 2024 at US$460.00.
The salary increase is equivalent to 2.223% with respect to year 2023, considering the projected economic growth and inflation rates, such increase percentage shall be applied for the calculation of the minimum sectorial commissions wages.
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This publication contains information of general interest and does not constitute legal opinion on specific issues. Any analysis will require legal advice from the Firm.
