Federal tax collection up in January

Brazil's federal tax collection amounted to some $44.57 billion in January this year—a real increase of 0.79% from January, 2016. It was the first time a real increase is posted for January since 2014, according to information released today (Feb. 22) by the Secretariat of the Federal Revenue.

According to official data, the beginning of the economic recovery, the increase in the payment of oil royalties, and an atypical collection of $158 million as income tax on the capital gains from the sale of goods played a decisive role in the result.

The expansion in revenues with oil royalties was the main factor boosting the tax collection. In January, a real increase was reported at 60.86%—$739.6 million more than the same month in 2016.

Translated by Fabrício Ferreira