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.
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