São Paulo – Brazilian federal government revenues climbed 7.81% year-to-date through May to BRL 603.4 billion, the best result since 2014, the Federal Revenue Service reported.
In May alone, revenue reached BRL 106.2 billion, up 5.68% year-on-year. The Revenue Service said the hike was driven by economic recovery and by instalment payments by debtors, as well as by new PIS/Cofins tax rules on fuels.
Translated by Gabriel Pomerancblum
