BRASILIA (Reuters) - Brazil's federal tax revenue fell for a third consecutive month in August, highlighting challenges faced by the government in ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBRASILIA - Brazil's federal tax revenue fell for a third consecutive month in August, highlighting challenges faced by the government in improving public finances while relying on increased collection.
The data was once again impacted by a 23.30% plunge in corporate tax collection, according to the revenue service, which had previously benefited from"atypical collections" in the same month last year. Claudemir Malaquias, head of the government's tax and customs studies center, said that 2022 tax collection was boosted due to higher commodity prices, mainly due to Russia's invasion of Ukraine.
Year-to-date federal tax revenue declined by 0.83% in real terms from the same period in 2022, totaling 1.518 trillion reais.