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Brazilian Revenue Growth Slows

by Mike Godfrey,, Washington

23 December 2011

The Brazilian tax authority has confirmed that taxes collected in November 2011 were up 6.4% on that recorded a year previous, but had fallen since a month earlier.

The month's receipts amounted to BRL79bn (USD42.5bn), a marked increase on the BRL69.6bn recorded in November 2010. This means that total receipts for the ten-month period are 11.7% higher than in the same period in 2010 despite the country's slowing economy.

The statistics however do suggest that economic slackening has dented the tax-take, with the month's revenue lower than the BRL89.2bn tax collected in October.

To combat the slowing economy, the government recently announced a number of fiscal stimulus measures, including a reduction in financial transaction taxes. In addition, the country's central bank slashed its interest rate for the third time to boost economic prospects.

TAGS: tax | economics | fiscal policy | gross domestic product (GDP) | tax authority | Brazil | revenue statistics

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