Brazil’s federal tax collection up 4.9%, new record for 2021

Brazil’s federal tax collection displayed an increasing trend in October, with $31.66 billion. The amount is up 4.92 percent from the same month last year. The figures were released by the Federal Revenue Service.

For the first ten months of 2021, the collection added up to $270.47 billion, 20.06 percent above the same period in 2020 and the highest value in the current time series, started in 1995.

The performance is believed to have been boosted by non-recurring drivers, like the extraordinary collection of $6.37 billion from Income Tax of Legal Entities and Social Contribution on Net Profit.