Federal tax revenues slump 1.16% in March, reports the Brazilian Inland Revenue Service

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Tax collection dropped in March, according to data released by the Brazilian Inland Revenue Service. 

Last month, federal revenues reached R$ 98.994 billion, with a real decrease (discounting inflation) of 1.16%, compared to the same month of 2016.

There was a 1.54% decrease in taxes and contributions collected by the IRS, while for revenue not managed by the IRS, which includes oil royalties, there was an increase of 27.75% – a volume of R$ 1.659 billion in March.

From January to March, tax collections hit R$ 328.744 billion and growth of 0.08% in total.

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