Brasília – On the back of a recovering economy, oil royalties and fuel tax charges, federal revenue picked up in April, which saw the best result in four years. According to numbers from the Federal Revenue Service, collection amounted to BRL 130.806 billion last month. The amount is up 7.83% year-on-year in April. According to the Federal Revenue, inflation-corrected collection was up BRL 9.49 billion year-on-year. Year-to-date through April, collection reached BRL 497.208 billion, up 8.27%.
Higher fuel tax charges accounted for BRL 1.402 billion out of total collection. Effective since late July 2017, the heightened social security charges Programa de Integração Social (PIS) and Contribuição para o Financiamento da Seguridade Social (Cofins) on fuels brought an additional BRL 2.597 billion into government coffers in March.
Translated by Gabriel Pomerancblum
