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First-quarter Brazil tax revenues soar on fuels, recovery

April 24, 2018 by

Brazilian tax revenues soared in the first quarter of 2018, aided by an economic recovery and hikes in fuel taxes, the Federal Tax Authority said Tuesday. First-quarter revenues were R$366.4 billion, up an inflation-adjusted 8.4% from the first quarter of 2017. Late last year, the government hiked taxes on most fuels. Revenues are also rising because of a broad economic recovery and because of government programs to encourage payment of tax arrears. Higher revenues should help the government reach its fiscal goals for 2018. The government’s goal is a primary budget surplus no greater than R$139 billion.

Link to government news agency release

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