Brazil’s federal tax collection up 45.2% in April; sets record for the month

RIO DE JANEIRO, BRAZIL – Federal tax collection rose 45.2% in real terms in April over the same period last year, totaling R$156.8 (US$29.63) billion, a record for the month, according to data released Thursday by the Federal Treasury.

The performance exceeded analysts’ projections for a R$140 billion tax collection.

In the four-month period, collection totaled R$602.7 billion, also the highest value for the period since the Federal Treasury series began in 1995.

The growth in collections in the month was driven by the fact that in April last year, the volume of deferred tax payments amid the coronavirus crisis (R$ 33 billion) was much higher than the deferral in April this year (R$8.6 billion).

In a note, the Treasury also highlighted the 42.6% increase in total collection of IRPJ/CSLL corporate income tax, which totaled R$35.3 billion in April. The IRPJ was deferred in 2020 and 2021 for companies that collect through Simples Nacional (unified collection of municipal, state and federal taxes).

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