CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Brazilian Revenue Growth Slows

Brazilian Revenue Growth Slows

by Mike Godfrey, Tax-News.com, 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

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »