São Paulo – Brazilian tax collection and federal contributions amounted to US$ 39.761 billion (or R$ 87.897 billion) in May, down 5.95% May-on-May, according to figures released this Friday (27th) by the Federal Revenue Services. This is the first decline in revenue this year and also the lowest figures for May since 2011.
According to information from news agency Agência Brasil, the performance was influenced by the economic stimulus packages granted by the government, such as exemption of the payroll and tax reduction. Furthermore, last May’s revenue was an all-time high of US$ 1.8 billion (or R$ 4 billion).
Year-to-date, the government is collecting more taxes than in 2013. By May, the amount was US$ 220.396 billion (or R$ 487.207 billion). The figures account for an increase of 0.31% from the year-to-date through May figures in 2013.
*Translated by Rodrigo Mendonça
