Brazil’s May tax collection highest since 2000

Brazil’s Federal Revenue collected $28.737 billion in taxes and federal contribution in May. Inflation deducted, the amount shows a real increase of 69.88 percent from May 2020.

Year to date, collection stands at $150.622 billion, up 21.17 percent according to the Broad Consumer Price Index (IPCA).

According to the Federal Revenue, this is the “best performance for collection since 2000, both for the month of May and the year-to-date value.” The same was reported in February, March, April, and May 2021.

In the view of Economy Minister Paulo Guedes, the result is a sign that the Brazilian economy is recovering. “The Brazilian economy continues to surprise us favorably,” he said after unveiling the figures.

“It’s a historical record—a growth of nearly 70 percent compared to the same month the previous year. From January to May, [the collection] reached $150 billion. It’s a real increase of 21 percent from the same period last year,” Guedes said.

Regarding revenues administered by the Federal Revenue, the amount collected, in May 2021, was $27,892 billion, which accounts for a real increase of 67.65 percent. From January to May 2021, collection stood at $143,969 billion—a real increase of 21.42 percent.

The ministry also reported that compensations grew 89 percent in May 2021 from May 2020 and 46 percent year to date.