Brazil's tax revenue falls 10.12% in August

The federal government collected $28.48 billion in taxes in August 2016. With the result, collection plunged 10.12% compared with the same period in 2015, in inflation-adjusted terms. It is the worst result since August 2009. Data were released this Thursday (Sep. 29) by the IRS.

The year-to-date federal revenues totaled $253.2 billion, down 7.45% compared with the same period last year. It is the worst accumulated result since 2010.

According to the IRS, among the main factors that influenced the figures from January to August 2016, there are the performance of main macroeconomic indicators, including the drop in industrial production. During the period, service sales have also fallen 4.79%, and the price of imports in US dollar decreased by 27.02%.

Translated by Amarílis Anchieta