Brazil - U.S. Business Council

  • About
    • Leadership
    • Meet the Team
    • BUSBC Policy Agenda
    • Events
  • Policy Agenda
  • Newsroom
    • Publications
    • Photo Gallery
  • Membership
    • Member Companies
    • Sponsorships
  • DID Member Login

Brazilian revenues lag as plans for tax arrears disappoint

November 27, 2017 by

Revenues from Brazilian tax collections continued to lag as of October due to disappointing results of programs designed to raise money from arrears payments. October revenues of R$121.1 billion were down more than 20% from the same month in 2016, the Brazilian Tax Authority said Friday. Revenues in October of 2016 were inflated by inflows of R$48.1 billion from a program designed to repatriate funds held by Brazilians overseas. A similar program this year yielded only R$1.6 billion. Similarly, the government has been counting on a program of installment payments and discounts to clear up domestic tax arrears. That program has yielded some R$16.1 billion so far in 2017, about R$5 billion less than anticipated. Overall tax revenues for the first ten months of the year were R$1.09 trillion, down 0.76%, in inflation-adjusted terms, from the first ten months of 2016.

Link to Federal Tax Authority release.

More Testimonials

Filed Under: Brazil News

Brazil In The News

Brazil-U.S. Business Council

View All Brazil News Alerts

Connect With Us

Brazil-U.S. Business Council
1615 H Street NW
Washington, DC 20062

Phone: 202-463-5729
Email: brazilcouncil@uschamber.com

  • Facebook
  • LinkedIn
  • Twitter
Copyright © 2021 | Brazil-U.S. Business Council | Privacy Policy