São Paulo – Federal tax revenue went up 0.49% in February in comparison to the same period of last year, according to information released this Tuesday (24th) by the Federal Revenue and published by Agência Brasil. The increase in tax revenue was the result of a corporate rearrangement between two private companies. The deal was worth R$ 4.64 billion (US$ 1.44 bn) in taxes collected by the Federal Revenue. Last month, the total collected was R$ 89.982 billion (US$ 28.7 bn).
If not for this deal, tax revenue would have been lower than in February of last year. According to the head of the Centre for Tax and Customs Studies of the Federal Revenue, Claudemir Marques, this deal probably won’t occur again.
In the first two months, federal revenue grossed RS 215.263 billion (US$ 67.1 billion), 3.07% less than the amount collected in the same period of last year. Stagnation of the job market, tax exemptions and retraction of the economy are some of the factors affecting tax revenue in 2015.
*Translated by Sérgio Kakitani
