Brasília – Collection of federal taxes and contributions in January 2014 in Brazil was a record: R$ 123.667 billion (US$ 52.7 billion), as against R$ 122.548 billion (US$ 52.2 billion) in January 2013, the Brazilian Federal Revenue has reported this Tuesday (25th).
“We have had an increase in welfare contributions [in January]. The lowered tax burden had a positive impact, creating more formal jobs, and therefore tax collection has increased. There was also an increase in Income Tax collection from companies with the increased presumed profit,” said the joint Revenue secretary Luiz Fernando Teixeira Nunes.
The Revenue is estimating a 3% increase in tax collection in 2014, with a gradual increase each month, according to Nunes. “As concerns tax collection and the Federal Revenue, there are signs of an improvement in the business environment. If collection is on the rise, it is because the profit margins of companies are increasing,” he said.
*Translated by Gabriel Pomerancblum
