LatinNews Daily - 30 June 2021

In brief: Another strong tax take for Brazil in May

* The Receita Federal, Brazil’s federal tax authority, has reported a tax intake of R$142.1bn (US$28.7bn) for the month of May. This represents a 69.9% increase on the federal government’s tax take in May 2020, when the economy was just beginning to recover after the first hit of the coronavirus (Covid-19) pandemic. Over the first five months of 2021, the federal government’s tax take totalled R$744.8bn, a 21.2% increase on the same period last year. For both the month of May and the January-May period, the tax take is the best registered since 2000. The Receita Federal attributes this performance to “non-recurrent” factors, notably R$16bn collected through the IRPJ/CSLL corporate income tax since the start of the year. Economy Minister Paulo Guedes hailed the strong tax take as yet another sign that the Brazilian economy is back on track after the recession caused by the pandemic last year. Guedes also said that the government is working on a tax reform, and spoke of his intention of bringing down the corporate income tax.

End of preview - This article contains approximately 181 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.