Brazilian tax revenues rose sharply in July on increased industrial output and consumption, the Finance Ministry said Thursday. Monthly revenues reached R$129.6 billion, up 12.8%, in inflation-adjusted terms, from July of 2017. January through July revenues were R$843.9 billion, up 7.7%, in real terms, against the same period a year earlier. Revenues rose on increased collections of taxes related to industrial output and consumer goods consumption. Gains were also posted in collection of tax arrears and payment of royalties to the government related to oil and gas production. Tax collections so far in 2018 are ahead of projections and should assure government compliance with budget guidelines.
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