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Brazil’s tax revenues all-time high in 1st half of 2010

July 16th, 2010

Brazil's revenue service

Brazil‘s federal tax revenues reached an all-time high of about 216 billion U.S. dollars in the first half of 2010, a year-on-year increase of 12.5 percent, the government said on Thursday.

That was due to improved employment and wages, recovery of industrial production and increase of overall sales volume, said the Federal Revenue Secretariat.

The end of tax exemptions adopted last year also contributed to the increase. So did the economic recovery from the international financial crisis, according to the secretariat.

Tax revenues in June stood at 34.68 billion dollars, up 8.5 percent from the same month last year.

Source:Xinhua

http://english.peopledaily.com.cn


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