In Brazil, tax revenues keep rising in July – highest since 1995

RIO DE JANEIRO, BRAZIL – According to the Federal Tax Service, the collection of taxes and duties in July amounted to R$171.270 (US$33) billion. The result represents a real increase (adjusting for inflation) of 35.47% compared to the same month of 2020.

Compared to June this year, the tax collection increased by 23.67%.

The amount collected last month was the highest for July since records began in 1995.

The revenue result was within the expectations of the institutions surveyed by Broadcast Projections, which ranged from R$140.4 billion to R$184.4 billion, with a median of R$157.85 billion.

In the year ending July, federal tax revenues totaled 1.053 trillion reais, also the highest since records began in 1995. This amount represents a real increase of 26.11% over the first seven months of last year.

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