Federal Tax Revenue in Brazil for October 2020
Brazilian federal tax revenue is the total tax received by the federal government. In October 2020, the federal government collected revenues of BRL 154 billion, an increase of 28.5 percent over the previous month. It represents an increase of 13.9 percent compared to the same month of the previous year.
October 2020
Sources of Tax Revenue
The major sources of federal tax revenue are social security contributions, income taxes, and goods and services taxes.
Income tax, the largest revenue source, accounted for BRL 54 billion (35%), followed by Social Security Contributions (29%) and Goods and Services Taxes (26%).
The Top 10 Taxes
There are several taxes collected by the federal government. See below the top 10 taxes for October 2020.
Federal Tax by Region
The Southeast has the largest federal tax revenue of all regions. It accounted for BRL 98 billion (63%), followed by the South (15%), the Midwest (10%), the Northeast (8%), and the North (3%).
Top 10 states:
São Paulo (SP) contributes the most taxes to the federal budget, followed by Rio de Janeiro (RJ).
Year-to-Date Tax Revenue
The year-to-date federal tax revenue in 2020 is BRL 1.180 trillion. In the same period of the last year, the tax revenue was 1.264 trillion, a decrease of 6.7 percent.
Federal tax revenues are collected by the Brazilian federal revenue service agency (RFB), short for Receita Federal do Brasil in Portuguese. States and cities also collect taxes on goods and services.
See the article below for a brief description of the main taxes in Brazil.
