Brasília – Brazil’s federal government saw BRL 129.615 billion (USD 31.9 billion at current exchange rate) in revenue last July, up 12.83% in real (inflation-discounted) terms from July 2017. It was the highest amount for the month since BRL 137.375 billion (USD 33.8 billion) in 2011. Year-to-date through July, tax collection reached BRL 843.870 billion (USD 208 billion), up 7.74% year-on-year. The numbers were made public this Thursday (23) by Brazil’s Federal Revenue Department.
The Department ascribed the result primarily to improved results and of debt compensations from businesses, which led to a 28% increase in collection of corporate taxes (Imposto de Renda Pessoa Jurídica – IRPJ) and net profit taxes (Contribuição Social sobre o Lucro Líquido – CSLL) from non-financial companies.
Translated by Gabriel Pomerancblum
