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LatinNews Daily - 21 May 2021

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In brief: Brazil sees record tax take in April

* Brazil’s Receita Federal national tax authority has released the figures on the government’s tax take for the month of April, according to which tax revenue totalled R$156.8bn (US$29.7bn). This represents a 45.22% increase on the tax take in April 2020, and is the highest figure for the month since the year 2000. The federal government’s tax take for the period January-April 2021 is also the highest in two decades, up 13.62% on last year to R$607.2bn. Economy Minister Paulo Guedes has hailed these results as a sign of improvement of economic activity in the country, after the hit caused by the coronavirus (Covid-19) pandemic. “The tax take is a proxy of businesses’ recovery. The Brazilian economy appears to be accelerating”, Guedes said, citing recent upwards revisions for this year’s GDP growth. The Receita Federal notes that this year’s strong tax take so far can be “principally” explained by non-recurrent factors, such as extraordinary payments of the IRPJ/CSLL corporate income tax.