Home Business Federal Tax Collection Up 4.74% In 2018, Best Since 2014

Federal Tax Collection Up 4.74% In 2018, Best Since 2014

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Federal government revenues closed 2018 at 1.457 trillion reais, a real increase of 4.74 percent over 2017, the best result for the year since 2014, boosted by the improvement in economic activity, which positively impacted taxes related to consumption, industrial production, and imports.

The performance was also helped by the strong rise in oil-tax revenue for the year, according to data released by the IRS on Thursday.

The revenue stream managed by other agencies – which is mainly sensitized by royalties – had a real increase of 51.79 percent last year, to 58.214 billion reais.

Meanwhile, the increase in revenues managed by the IRS, which includes taxes, was 3.41 percent on the same basis of comparison, to 1,399 trillion Reais.

In December, the revenue fell 1.03 percent over a year earlier, to 141.529 billion reais, in the worst monthly performance recorded in 2018.