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Economy

Brazilians paid $537 bi in taxes last year

The amount is up 11.5% from the previous year
Agência Brasil
Published on 04/01/2023 - 13:20
São Paulo
Dinheiro, Real Moeda brasileira
Foto:José Cruz/Agência Brasil/Arquivo
© José Cruz/Agência Brasil/Arquivo

The amount collected from Brazilian taxpayers nationwide in 2022 totaled more than BRL 2,890 trillion, as per Impostômetro—the “Tax-o-meter,” a panel installed by the São Paulo Commercial Association in the city’s downtown area. In US dollars, the amount corresponds to over $537 billion.

In 2021, the panel recorded some BRL 2.6 trillion ($483.6 bi), so the increase stood at 11.5 percent from one year to the next.

The figure is the sum of the amount collected by federal, state, and municipal governments and includes fees, contributions, fines, interest, and monetary correction.

“The advance in 2022 came as a result of the higher collection of federal taxes, despite the government’s tax relief measures—in fuel, electricity, and telecom, for instance. And we were still under heavy inflation, which makes products and services pricier,” said Ulisses Ruiz de Gamboa, economist at Gastão Vidigal Institute, linked to the association.