Brazil collected $33.8 billion in federal taxes and contributions in October, as per data published today (Nov. 27) by the country’s Secretariat of the Federal Revenue—up 4.12 percent from the same month last year, inflation deducted. This is the best outcome for the month since 2016
From January to October, tax collection reached $312.9 billion, up 5.98 percent from the same period last year. This is the best performance for this time span since 2014.
The result is said to come chiefly as a result of the improvement in the performance of businesses, the reduction of debit offset, which led to a 17.01 percent increase in their income tax and social contribution on net profit (or IRPJ and CSLL, as they are referred to in the original). In October this year, the collection of these taxes added up to $6.31 billion, compared to $5.39 billion in October 2017.
Claudemir Malaquias, head of the secretariat’s Center for Tax and Customs Studies, argues the growth is in keeping with the pace of economic recovery.
