Thursday, 22 August 2019 08:43 GMT

Revenue up in June

(MENAFN - Brazil-Arab News Agency (ANBA)) Agência Brasil

Brasília - Federal revenue amounted to BRL 119.946 billion (USD 32,023 billion) in Brazil last June, theFederal Revenue Secretariatreported this Tuesday (23). The amount is up 4.68% year-on-year in real terms, and the biggest since 2014.

Over H1, revenue reached BRL 757.595 (USD 202.264 billion), up 1.8% year-on-year in real terms.

The head of the Center for Tax and Customs Studies, Claudemir Malaquias, said the revenue increase in June was driven by the truckers' strike in June last year. According to the Secretariat, 'the strike negatively impacted the baseline of some taxes, notably taxes that concern goods and services production and trade, downsizing 2018 revenue base.'

Malaquias pointed out that June last year saw a 'block in every industry's output,' which led to a lower revenue. 'In June 2018, all the effects of the truckers' strike were taken into account. The basis for comparison was quite low,' he said.

The year-to-date result, however, was driven by the hike in collection of corporate income taxes Imposto de Renda Pessoa Jurídica (IRPJ) and Contribuição Social sobre o Lucro Líquido (CSLL). These taxes were up 12.27% in real terms.

'This is the result of the companies's improved performance [last year, collected this year], specially non-financial companies, as well as atypical collections last February amounting to approximately BRL 4.5 billion [USD 1.2 billion],' said the Secretariat in a report.

Translated by Guilherme Miranda


Revenue up in June

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