Brasília – The federal tax collection registered the worst results for the time period of January to July in five years, reported this Tuesday (18th) the Federal Revenue. The Union collected R$ 712 billion (US$ 205.45 billion) in the first seven months of this year, amount that represents a decline of 2.91% over the same period of 2014. The results for July were also the worst for the month since 2010. Last month, the federal government collected R$ 104.8 billion (US$ 30.24 billion) in revenues, which means a decline of 3.13% over July 2014.
The data is already inflation-adjusted. The decline in industrial output was the main reason for the drop in tax collection in the first seven months of the year. Tax incentives also contributed for the decline in collection this year, with losses of R$ 62.6 billion (US$ 18.06 billion) for the government in the first seven months of the year.
*Translated by Sérgio Kakitani
