Brazil’s federal tax revenue rises 17.96% in June to record high

The government said corporate income tax was up 37.47%, following higher contributions from the fuel and retail sectors. In the year's first half, tax revenues grew 11% in real terms over the same period last year.

Brazil's federal tax revenues grew 17.96% year-on-year in June to a record high, according to official data released Thursday, boosted by higher corporate income taxes and oil royalties.

According to the revenue service, federal tax revenues were R$181.04 billion (US$33.14 billion), the highest June figure since the data series began in 1995.

The government said corporate income tax was up 37.47%, following higher contributions from the fuel and retail sectors.

The tightening of monetary policy by the central bank to curb inflation has lifted yields on fixed-income investments and, as . . .

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