Brazilian tax revenues in 2015 totaled R$1.274 trillion, a decline of 5.6% against the previous year, in inflation-adjusted terms, the Brazilian Tax Authority said Thursday. Revenues were down on a sharp decline in industrial output and a rise in unemployment. Revenues from the IPI industrial products tax were hit hard in 2015, falling 11%, in real terms, against the previous year. Income tax revenues were down 7%, in real terms. Brazil’s economy faced an overall slowdown in 2015, with economists estimating a decline of about 3.5% in gross domestic product.
Link to government news agency release.More Testimonials