Brazil tax collection up 18.3% in January

The result is the highest for the month since 1995

Published on 23/02/2022 - 15:40 By Luciano Nascimento - Brasília
Updated in 23/02/2022 - 15:49

The collection of all of Brazil’s federal revenues closed out January at BRL 235.3 billion, the Economy Ministry reported today (Feb. 23). The amount, the highest for the month since 1995, represents a real increase of 18.3 percent from January 2021, with inflation deducted. Brazil’s official inflation is gauged by the National Broad Consumer Price Index, or IPCA, which was 10.06 percent at the end of the year.

As for revenues administered by the country’s Federal Revenue Service, the amount raised in January 2022 stood at BRL 217.421 billion—a real expansion of 14.66 percent.

The surge in January may be chiefly explained by atypical payments of the Income Tax from Legal Entities (IRPJ) and the Social Contribution on Net Profit (CSLL), the Central Bank stated.

Translation: Fabrício Ferreira -  Edition: Fernando Fraga

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