São Paulo – Federal tax revenues decline 11.53% in February in comparison to the same period of last year to BRL 87.851 billion (USD 24.28 billion), according to balance report released by the Brazilian Federal Revenue Office this Friday (18). In January and February together, tax revenues totaled BRL 217.236 billion (USD 60.063), 7.94% less than in the first two months of 2015.
According to information from the Federal Revenue Office released by Agência Brasil, the sharpest decline in tax revenues occurred in the corporate sector, with taxes such as Corporate Income Tax (IRPJ), Social Contribution on Net Profit (CSLL) and Tax on Industrialized Goods (IPI) in sectors such as auto and beverages.
*Translated by Sérgio Kakitani
