Brazil’s booming economy ensures that June tax revenues rise by 46% compared to 2020

RIO DE JANEIRO, BRAZIL – Federal tax revenues registered a real increase of 46.77% in June compared to the same month last year, reaching R$137.169 (US$27) billion.

With the month’s performance, the collection in the first semester of 2021 reached the mark of R$881.996 billion, a real increase of 24.49% compared to the same period of 2020, according to figures released by the Federal Revenue Service (IRS).

In the inflation-adjusted series, the June result is the best for the month since June 2011. For the year, it is the best in the series.

Without inflation adjustments, June tax collection showed an increase of 59.02% compared to the same month last year, when the total tax collection was R$86.258 billion.

Considering only the revenue managed by the Tax Agency, there was a real increase of 45.68% this month, totaling R$133.008 billion.

The nominal peak would be 57.84%. Over the year, managed revenues totaled R$844.935 billion, an actual increase of 24.63% and a nominal growth of 32.60%.

The Brazilian economy is in robust shape with an explosion of business startups, booming agribusiness, and an impressive wave of new digital unicorns that are about to change the face of Brazil and probably all of Latin America through their rapid expansion and disrupting technologies.