Second decline in Brazil’s tax revenue in June despite record first-half total

In June 2023, the federal government reported a revenue total of R$180.4 (US$38) billion), marking a 3.37% decrease in real terms compared to the previous month.

The earlier period in June 2022 saw a collection of R$186.7 billion.

This decrease represents the second time in 2023 that monthly revenue dropped, with a previous decline of 0.42% in March.

The Federal Revenue Service made the data public on Tuesday, July 25, 2023. The complete report can be accessed here (623 KB).

In the first half of 2023, total revenue reached R$1.152 trillion, indicating a slight increase of 0.31% in real terms.

This is the highest recorded sum for a half-year period since records began in 1995. In the first half of 2022, the government had collected R$1.149 trillion.

The Federal Revenue Service attributed the recent decrease in collection to variations in tax laws and irregular payments made in both 2022 and 2023.

Moreover, an exceptional collection of R$6 billion from IRPJ (Corporate Income Tax) and CSLL (Social Contribution on Net Income) in June 2022, which did not recur in 2023, has also impacted the revenue figures.

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