By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Tax collection and federal contributions totaled R$139.030 (US$34,750) billion in April, a real increase (after deducting inflation) of 1.28 percent over the same month in 2018, according to the Federal Revenue Service.

Tax collection in Brazil is high but won’t help to improve the country’s finances. (Photo Alamy)

In relation to March this year, there was an increase of 25.84 percent, the best performance for April since 2014.

Between January and April this year, federal revenues totaled R$ 524.371 billion, the best performance for the period since 2014. The amount represents an improvement of 1.14 percent compared to the same period last year.

The collection of R$11.030 billion in revenue managed by other agencies contributed to the April result, an increase of 24.82 percent in relation to the same period in 2018.

This revenue totaled R$25.205 billion for the year, a 21.12 percent growth rate.

Exemptions granted by the government resulted in a tax waiver of R$31.994 billion between January and April of this year, higher than in the same period last year when it stood at R$27.578 billion.

In April alone, exemptions totaled R$7.927 billion, an increase of R$6.891 billion compared to April last year.

Payroll exemption alone cost the federal coffers R$684 million in April and R$2.874 billion in the year-to-date figure.

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