Last January, Brazil collected 174.991 billion reais (US$39.861 billion) in taxes, a real increase of 4,69% (not including inflation) compared to the same month in 2019, which was a historic record for the period, the Federal Revenue Secretariat reported on Thursday (20.02.2020).
According to the report of the agency belonging to the Ministry of Economy, the income managed by the Federal Revenue (federal taxes and contributions) reached 163.948 billion reais (US$37.345 billion) last month.
Revenues managed by other agencies, including oil royalties, amounted to R$11.043 billion (US$2.515 billion), an increase of 4,65%.
According to the Federal Revenue Service, January's revenues were boosted by higher-than-expected inflows from the Personal Income Tax (IRPJ) and the Social Contribution on Net Income (CSLL, Portuguese acronym).
"Without considering atypical payments, there would be a real growth of 2,91% in revenue in January 2020," the entity said.
"This performance can be explained by the behavior of the economy and by the growth in IRPJ/CSLL collection, especially for companies that closed their balance sheets in December 2019," he added.
Last January, IRPJ/CSLL revenues amounted to 52.071 billion reales (US$11.861 billion), which meant a real growth of 16,45%.
The first month of the year also saw a notable increase in Personal Income Tax (IRPF) revenues, which reached R$2.043 billion (US$465 million), a real increase of 27,14%.
In turn, revenue from the Import Tax and the Tax on Industrialized Products, which affects the import of goods, reached 5.838 billion reais (US$1.329 billion), a real increase of 6,46%.
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