IRS: Despite crisis, Brazilian tax collection brakes record

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SÃO PAULO, 11/19/08 - The worsening in the economic crisis did not hurt federal tax collection in October, said the Brazilian Internal Revenue Service (RF). Last month's federal tax collection amounted to the record of R$65.493 billion, the best result for the month, up 17.13% against September.

Compared with October 2007, tax collection was 12.3% higher. From January to October, tax contributions amounted to R$576.596 billion, equivalent to a real growth of 10.3% against the first 10 months of 2007.

With October's figures, federal tax collections' growth gained speed after falling for two consecutive months. From January to September, the accumulated hike in government revenues was 10.03%.

(newsroom/cferreira - InvestNews)