Brazilian tax revenues reach new historical record in July

Federal tax revenues registered a real increase of 7.47% in July compared to last year’s, reaching R$202.588 (US$41) billion.

This is a record for the month, according to the series started in 1995, adjusted for inflation.

Revenues continued to be boosted by the corporate income tax (IRPJ) and the social contribution on net profits (CSLL).

With last month’s results, revenues for the year reached R$1.292 trillion, a record for the period. This is a real increase of 10.44% compared to the same period in 2021, data released Friday by the Brazilian Federal Tax Agency (RFB).

Excluding inflation corrections, tax revenue in July rose 18.29% compared to the same month last year, when it totaled R$171.270 billion (current value).

Considering only the revenues managed by the RFB, last month showed an actual increase of 5.21% compared to the same month last year.

They reached a total amount of R$181.267 billion. The nominal peak would be 15.80%. This year, managed revenues totaled R$1.206 trillion, representing an actual increase of 8.42% and a nominal increase of 20.45%.

Other federal agencies’ own revenues (which include data on oil royalties, for example) totaled R$21.321 billion last month, up 31.40% from the same month in 2021. In nominal terms, these revenues increased by 44.63% in July compared to the same month in 2021.

This year, other agencies’ own revenues totaled R$85.928 billion, up 49.66% in real terms compared to the same period in 2021.

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