Brazil tax revenue up 5.27% in new record for February

Driven by the recovery of the economy and the rising price of oil worldwide, Brazil’s federal tax collection hit a record high for February. According to data released by the country’s Federal Revenue Service on Monday (Mar. 28), the government collected BRL 148.66 billion last month, up 5.27 percent above inflation in values corrected by the National Broad Consumer Price Index, the IPCA.

The amount is the highest in history for the month of February since the beginning of the current time series, in inflation-adjusted values. In January and February, federal tax collection added up to BRL 383.99 billion, up 12.92 percent above the IPCA rate, also a record for the period.