Brazil’s federal tax receipts rise in September
On a year-to-date basis, the tax collection of the central government fell by 9.1%
The tax revenue collected by the federal government grew by 5.2% y/y to BRL 119.8bn in September, reflecting the acceleration of economic activity. This is the second rise in a row, on an annual basis, as the federal tax collection increased by 3.8% y/y in August, after declining between March and July.
On a year-to-date basis, the tax collection of the central government fell by 9.1% y/y to BRL 1,026bn, compared to BRL 1,129bn between January and September 2019. Apart from the impact of the crisis on tax collection, the higher use of tax exemptions by companies also had negative implications on the government’s revenue.
Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.