He tax to the investment funds of the super rich of Brazil implemented by the government of President Luiz Inácio Lula da Silva allowed the tax collection in January was the best in history.
The increase in collection, which reached almost 7% year-on-year, is considered the key piece for the zero deficit objective set by the Minister of Finance, Fernando Haddad, by 2024, within the new fiscal framework, which replaced the 20-year public spending ceiling that governed from 2016 until last year. said the Receita Federal, the tax collection body, dependent on the Ministry of Finance.
Brazilian tax collection reached 280,636 million reais (56,800 million dollars) in January.
The result is the best recorded in real terms for all months in the historical series of statistics, which began in 1995.
The tax on investment funds exclusive to the so-called super-rich was fundamental to the result of the collection
One of the factors that contributed positively to the result was the taxation of exclusive investment funds of the so-called super-rich, which generated 4.1 billion reais, 830 million dollars, a real growth of 24.4%.
The head of the Center for Tax and Customs Studies of the Federal Revenue, Claudemir Malaquias, He said that the law that modifies the taxation of offshore companies and exclusive investment funds, enacted at the end of 2023, allowed lasting results for this year’s income.
January collection was well above financial market forecasts, improving prospects for the government’s goal of eliminating the fiscal deficit this year.
According to the statement, the wage bill increased 7.2%, which increased income from pension and labor contributions.
The federal government, on the other hand, stopped collecting 11 billion reais (about 2.3 billion dollars) due to tax exemptions for various sectors, especially manufactured products.
Source: Ambito
