Brazil Reaps US$ 32 Billion in Taxes in First Quarter

Federal tax and contributions collection in Brazil reached US$ 10.687 billion (27.989 billion reais), in March. This number, the highest ever registered for March, is 6.4% higher than that of March of last year, and 10.7% higher when compared to February of this year.

This first quarter (January-March) total collection reached US$ 32.493 billion (85.1 billion reais), an also record for the period; 5.14% more than last year’s first quarter.


According to the Federal Revenue and Customs Secretariat, high collection numbers are due to the increase in the Gross Domestic Product (GDP), as well as to more effective measures against fiscal frauds.


In January alone, federal tax collections amounted to US$ 12.379 billion (31.990 billion reais). Compared with January, 2004, this represented a nominal growth of 13.56%. When the figure is corrected for inflation, using the Broad Consumer Price Index (IPCA), the variation comes to 5.73%.


According to data from the Federal Revenue Department, the increased volume of sales in December, 2004, exerted a positive influence on revenue collections in January, since much of what is collected in one month reflects purchases made in the previous month.


Record 2004


The Federal Revenue agency collected a record amount of taxes and contributions in 2004, to the tune of US$ 118.555 billion (322.555 billion reais). In December alone US$ 11.988 billion (32.620 billion reais) were collected.


In nominal terms, last year’s amount represents an 18% increase in comparison with 2003, when the government received US$ 100.462 billion (273.358 billion reais).


In the December-December comparison, revenues grew 17.40% between 2003 and 2004, according to Federal Revenue secretary, Jorge Rachid


ABr

Tags:

Ads

You May Also Like

Impressed by Lula’s Work

Brazil’s strong performance is clearly bearing fruit: a broad-based economic recovery is underway that ...

In Rural Brazil When You Need “Justice” You Just Hire Your Hit Men

An ambush on April 16, 2009, carried out by agents of a private security ...

Is Brazil in Love with the A-Bomb?

Brazil announced that in a few months it will start producing enriched uranium, which ...

Brazil’s Finance Minister Close to Resignation on Corruption Charges

The Brazilian Attorney General’s Office will file corruption charges against Finance Minister Antonio Palocci, ...

Brazil Offers Paraguay a Loan But Not a Better Deal on Electricity

Paraguayan president Fernando Lugo, who is visiting Brazil, and his counterpart host Brazilian Luiz ...

Brazil: Congress Wants New Economic Model

Brazilian President Lula’s recent defeat in the House could be the first step to ...

Without Answers, Brazil Senate Summons Psychic to Find Out Blackout’s Causes

At the request of senator Arthur VirgÀ­lio, the leader of the opposition party PSDB ...

In Blood of the Wicked, a Brazilian Cop Turns Out to Be the Good Guy

George Demko, a professor at Dartmouth University, has carved out an interesting niche for ...

Brazil Has a Candidate for the Inter American Bank, But the US Doesn’t Like Him

Brazil, Colombia, Peru, Nicaragua and Venezuela candidates will be participating next week in the ...

Brazil’s New Racial Equality Law Is Watered Down. But Blacks Are Not Complaining

Although there are different evaluations of how much impact the newly House-approved Statute of ...