RIO DE JANEIRO, BRAZIL - Despite the economic slowdown in recent months, federal tax collection suggests that the economy is recovering gradually and consistently. For experts at the Ministry of Economy, the fact that July's collection reached its highest level in eight years and surpassed financial institutions' estimates, suggests that the economy is beginning to Subscribe to our Premium Membership Plan. Already Subscribed? Login Here
Federal Tax Collection Increase Indicates Gradual Economic Upturn
Corporate Income Tax (IRPJ) and Financial Operations Tax (IOF) revenues grew, regardless of the slowdown. The amount collected in July represents 2.95 percent more than that recorded in the same month last year.
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