Federal tax collection rises 35% in July and breaks record | Brazil

THE federal tax collection registered a royal high in 35.47% in July compared to the same month last year and reached R$ 171.270 billion, an amount record for the month. With the performance of July, the collection in the year reached the mark of R$ 1.053 trillion, a real increase of 26.11% compared to the same period in 2020. The amount for the year is also a record. The biggest balance seen so far was that of 2013: R$1.010 trillion.

Without inflation correction, the collection showed an increase of 47.66% in July compared to the same month last year, when the total collection amounted to R$ 115.990 billion (current value).

Considering only the revenues managed by the Revenue, there was a real increase of 29.92% in the month, totaling R$ 156.528 billion, compared to the same month last year.

The nominal high would be 41.60%. In the year, managed revenues totaled R$ 1.001 trillion, a real increase of 25.41% and a nominal increase of 33.93%

The own revenue of other federal agencies (where the oil royalties data are, for example) was R$ 14.741 billion last month, a real increase of 148.15% compared to the same month in 2020. In nominal terms , these revenues would rise 170.47% in July compared to the same month in 2020.

In the year, the own revenue of other agencies totaled R$ 51.803 billion, which corresponds to a real increase of 41.43% compared to the same period in 2020.

The growth of tax offsets again affected the collection in July, highlighted the Federal Revenue. In the month, they increased by 25.9% compared to the same month in 2020 and totaled R$ 26.262 billion.

There was, in turn, growth in the collection of the main forms of calculation of the IRPJ/CSLL, which resulted in a growth of 37.8% in the amounts collected. The extraordinary collection in the month was R$ 4 billion.

The tax authorities also stated that in July there was payment of deferred installments from Simples Nacional. In addition, in the same month of 2020 there was the effect of reducing IOF Credit rates.

The behavior of the main macroeconomic variables also influenced tax collection. Compared to the same month of the previous year, industrial production rose 13.07% in July. Sales of goods advanced 11.50% and sales of services, 21.10%. The dollar value of imports rose 55.16%.

Regarding electronic invoices, there was an increase of 36.50% in terms of value and 19.54% in terms of volume.

The government failed to collect R$ 54.273 billion in the first seven months of the year due to tax cuts. In 2020, it gave up R$ 54.062 billion in the same period. In July alone, exemptions totaled R$7.317 billion.

In the year, with Simples and MEI (Individual Micro-entrepreneurs) alone, the government did not receive R$9.312 billion in taxes. In addition, the PIS/Cofins exemption on diesel contributed to a reduction of R$ 3.678 billion in collection.

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