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Financial News: BRAZIL: Tax Revenue Shrinks 20.7% In October From

BRAZIL: Tax Revenue Shrinks 20.7% In October From A Year Before

11/25/2017 - 09:19:00 (RTTNews)

(RTTNews) - Brazilian government revenue in October fell 20.73% from a year before, to R$ 121.144 billion (US$ 37.4 billion), since in the same month of 2016 there was an extraordinary gain of R$ 45 billion from a program to stimulate taxpayers to bring back assets kept abroad. The results are adjusted for inflation.

In October this year, there was an improvement in the tax collection due to the Special Tax Regularization Program, a tax increase on fuels, and a better economic performance.

So far in 2017, the tax revenue is 0.76% down from a year before, as Brazil still struggles with the negative fallout from a deep recession in the past two years.

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