BRASILIA, Jan 26 (NNN-CMA) – Brazil collected a record 2.218 trillion reals (429 billion U.S. dollars) in taxes in 2022, the most, since records started being kept in 1995, the Federal Revenue of Brazil (RFB), the tax administration agency, said.
The figure represents a real increase, discounting inflation, of 8.18 percent compared to 2021.
Tax revenue rose, despite the fact that the RFB forgone some 120.45 billion reals (23.3 billion U.S. dollars) in tax collection, due to tax breaks, provided by the government, said the agency.
Among the factors that drove the growth in collection were the higher prices for fuel, minerals and food.
Brazilian economy’s approximately three percent growth in 2022, also helped boost revenue, according to financial market analysts.
Tax collection set a monthly record in Dec, 2022, registering a real increase of 2.47 percent compared to the same month in 2021.
Inflation-adjusted figures showed Dec’s revenue collection was the best since those records started being kept in 2007.
Brazil’s tax collection saw real growth in every month of 2022, compared to 2021.– NNN-CMA
