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Brazil registers best monthly tax collection in September since 2015
Last Updated: 2018-10-25 09:55 | Xinhua
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Brazil's tax revenue reached 110.664 billion reals (29.748 billion U.S. dollars) in September, an increase of 0.26 percent year on year and the best monthly performance since 2015, the Department of Federal Revenue of Brazil said Wednesday.

September was the eleventh consecutive month of collection increases taking into account numbers adjusted for inflation, according to the department.

September's collection was influenced by better performance of companies and a reduction in tax compensation, said Claudemir Malaquias, head of the Center for Tax and Customs Studies.

Public revenues are also being favored by oil royalties due to an increase in the price of the product in the international market.

Year to date, the tax collection reached 1.06 trillion reals in current value. This represents an increase of 6.21 percent compared to the same period last year, while in nominal values, the growth would be 9.91 percent.

The increase in Brazilian tax collection comes at a time when the economy is gradually recovering, coming out of recession last year with a 1 percent growth in gross domestic product after two years of retraction.

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