Brazil’s federal tax revenue surges in the first half of 2021

Brazil’s federal tax collection rose by 59% y/y in June to BRL 137bn, reflecting mainly the growing economic activity in May.

In H1 2021, the federal tax collection expanded by 32.4% y/y, totalling BRL 882bn, reflecting higher revenue from profit and import taxes, and the rising inflation, particularly in the industrial sector. In real terms, federal tax receipts grew by 24.5% y/y in H1, according to the Secretariat of the Federal Revenue, which provides the data.

Further data and analysis on Brazil’s economy are available on the CEIC Brazil Economy in a Snapshot – Q2 2021 report.