Brasília – Tax collection in Brazil reached 67.973 billion real (US$ 38.5 billion) in July, a record-high for the period, as informed today (17th) by the Federal Revenue. Record-high figures were recorded every month this year.
When adjusted by the Extended Consumer Price Index (IPCA), the figure collected in July was 10.76% higher than the one recorded in the same month of last year. In comparison with June, the actual growth rate (discounting the IPCA) was 10.54%.
From January until July, R$ 447,464 billion real (US$ 253.6 billion) have been collected. Adjusted by the IPCA, the result is 12.22% higher than in the same period last year.
According the Federal Revenue, the result in July was mostly due to the recovery of industrial production, the sale of goods and the total wages paid, which have influenced tax collection. These factors have stimulated the collection of the Tax on Industrialized Products (IPI), the Social Integration Program Tax (PIS) and the Social Contribution Tax (Cofins), and the social security tax, respectively.
*Translated by Gabriel Pomerancblum
