by Bernardo Caram
BRASÍLIA (Reuters) – Federal government revenue rose 6.92% in March over the same month last year, at 164.147 billion reais, the Federal Revenue Service announced on Thursday.
The result, again boosted by government gains from oil royalties in view of the high price of the barrel, was the highest for the month in the historical series of the Revenue adjusted for inflation, started in 1995.
If only the revenue administered by the Federal Revenue is considered, which includes the collection of taxes within the competence of the Union, the collection had a real increase of 5.89% in the month.
On the other hand, revenues managed by other bodies, which are mainly affected by royalties from oil production, jumped 49% above inflation.
In the first quarter, real collection growth was 11.08%, to 548.132 billion reais, also with the strongest performance for the period in the series started in 1995.
In the first three months of the year, earnings from royalties totaled 23.4 billion reais, compared to 14.7 billion reais in the same period in 2021, which represents an increase of 59.4%.
Tax analysis also points to an improvement in most economic indicators in March, compared to the same month of the previous year, as in the sale of goods (+0.3%), sales of services (+7.4%). dollar value of imports (+19.0%) and value of electronic invoices (+12.4%). There was a decrease in industrial production (-4.8%).
In the cut by taxes, the Revenue registered a real increase of 24.7% in the gains with Income Tax of companies and Social Contribution on Net Income (CSLL). Workers’ withholding income tax increased by 18.0%.
There was a drop in Import Tax (-29.1%) and IPI (-6.1%) revenues. The two taxes have suffered rate cuts by the government in recent months.