Brazilian tax revenues in August reached R$104.2 billion, a 10.8% inflation-adjusted increase over August of 2016, the Federal Tax Authority said Wednesday. It was the first evidence of solid increases in tax collections so far this year and followed months of stagnant or declining revenues. Revenues for the first eight months of the year were R$862.7 billion, an inflation-adjusted rise of 1.7%. Revenues have been aided this year by a government plan to repackage tax arrears, allowing long-term stretch-outs via installment plans. Under the so-called Refis program, such installments brought $5.5 billion in added revenues from January through August, including R$1.8 billion in August alone. Officials on Wednesday said tax collections have also gained because of a modest but broad economic recovery. The recovery has brought a rise in retail sales along with higher incomes and employment.
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