(Corrects the federal tax collection for the semester to 881.966 billion reais, instead of 844.9 billion reais)
by Isabel Versiani
BRASÍLIA (Reuters) – The federal tax collection returned to show an expressive real growth over 2020 in June, of 46.77%, and accumulated in the semester a record amount of 881.966 billion reais for the period, according to data released by the Federal Revenue Service. this Wednesday.
The jump in revenue comes amid the recovery of the economy after the serious crisis suffered last year with the stoppage of activities due to the Covid-19 pandemic, which affected the taxation of consumption and income. In addition, as a measure of relief to companies, the government postponed in 2020 the payment of a series of taxes, which was not repeated with the same intensity this year.
Revenues totaled 137.169 billion reais in June, the second highest value for the month in the Revenue series, which begins in 1995. In June 2011, the collection was 143.793 billion reais, according to data corrected by the IPCA.
The real increase in revenue in the semester compared to 2020 was 24.49%.
According to the Revenue, excluding the impact on collection of the main non-recurring factors and changes in legislation, such as atypical collections and deferrals, collection would have grown less –20% in June and 13.14% in the semester compared to 2020.
Even so, Economy Minister Paulo Guedes stated that the level of revenue obtained in the semester is sustainable going forward, regardless of the performance of the economy, and reiterated that the higher revenue will be used to cover losses with the measures proposed by the government in its tax reform.
“Even if Brazil stopped growing from now on, we would already have this level of revenue reached and therefore sustainable,” said Guedes.
“The level of collection, with the fiscal regime we have today, is maintained. What we are going to do is just take a part of this increase in collection and transform it into a reduction in rates and simplification of taxes, as we always promised”, said the minister.
Last week, Guedes had said that the collection for the semester came 100 billion reais above the forecast and that the amount would be enough to cover the government’s potential losses with its proposal to reform the Income Tax, estimated at 30 billion reais.
“This is not worrying us much now, because just from the GDP returning to the level similar to what it was before the pandemic, it has already collected 100 billion (BRL) above the forecast now,” Guedes said last week. [nL1N2OQ1VI]
The Revenue informed that this Thursday it will update its projections for the year’s revenues.
In the first half, all sectors of the economy analyzed by the Revenue had high revenue, with highlights for the extraction of metallic minerals (+175.6%), metallurgy (+79.7%) and manufacturing of rubber and plastic products (+ 67.3%).
The taxes whose collection grew the most were Personal Income Tax (+46.1%) and taxes linked to imports (+43.2%).
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