Brazil’s federal tax revenue soared in April

Tax revenue received by the Brazilian federal government rose by 55% y/y in April, in nominal terms, reaching BRL 156.8bn, as the most populous states relaxed some social distancing measures during this month.

The tax collection improved, in part, following the reopening of some businesses, but the federal government also reported an atypically high payment of corporate taxes estimated at BRL 1.5bn. In addition, the growth in April 2021 reflects a low base effect, because the federal tax collection plunged in April 2020.

Further data and analysis on Brazil’s economy are available on the CEIC Brazil Economy in a Snapshot – Q1 2021 report.