Federal collection in March lowest since 2010

The collection of federal revenues in Brazil saw a shrinkage of 3.32 percent in March, totaling $20.3 billion.

The comparison is drawn from the same month 2019, inflation deducted. This is the lowest amount for the month since March 2010, when $19.6 billion was collected. The figures were made public today (Apr. 22) by the Federal Revenue Service, in Brasília.

The revenues administrated by the Federal Revenue Service, including taxes and federal contributions, reached $19.9 billion, resulting in a real reduction (inflation deducted) of 3.67 percent.

Revenues administered by other agencies, in turn, especially oil royalties, amounted to $432 billion, up 15.98 percent compared to March 2019.

From January to March, total collection stood at $74.5 billion, with a real increase of 0.21 percent year on year.

The head of the Center for Tax and Customs Studies, Claudemir Malaquias, said that the March outcome still does not fully reflect the effects of lockdown brought about by COVID-19.

“The collection in March mostly reflects drivers from the month before, except taxes incurred daily, like the tax on income at the source and the tax on industrialized goods linked to foreign trade operations,” he said.