Brasília – Revenues from federal taxes and contributions in Brazil amounted to R$ 90.7 billion (US$ 36.1 billion) in September, the Brazilian Federal Revenue Service has reported this Wednesday (29th). The sum is 0.92% higher than in September 2013, adjusted for inflation. One of the reasons for the all-time high was the introduction of the Refis da Crise payment scheme.
Refis da Crise is a tax debt instalment payment scheme established by Law 11.941 from 2009. A new deadline was opened for taxpayers to apply for the benefit until December 31st 2013. Later, the deadline was extended until August 25th, 2014, for debts expired before December 31st, 2013.
Year-to-date through September, federal tax revenues reached R$ 862.5 billion (US$ 343.75 billion), up 0.67% from the comparable year-ago period, including Refis da Crise revenues. In turn, revenues declined for the Corporate Income Tax and the Social Contribution on Net Profit (CSLL, in the Portuguese acronym). Taxes on payroll, grocery packages to employees, the ICMS (tax on circulation of industrialized goods) and the ICMS tax used as a basis for calculating PIS (Social Integration Program) and Cofins (Contribution for the Financing of Social Security) payments also declined as a result of tax breaks.
*Translated by Gabriel Pomerancblum
