LatinNews Daily - 24 June 2020

* Brazil’s federal government has seen its tax revenue fall by 32.92% in real terms in May, compared with the same month last year. The Receita Federal tax authority collected R$77.415bn (US$15.028bn) in May this year, compared with R$113.2bn in May 2019 – the lowest figure since May 2005. In the year to May, the Receita Federal’s tax revenue totalled R$579.708bn, down 11.93% on revenue collected over the first five months of 2019. According to government tax auditor Claudemir Malaquias, this decrease in revenue, both in May and across the whole of 2020, is largely due to the postponement of various tax payments in light of the coronavirus (Covid-19) pandemic, which together add up to approximately R$65bn.  

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