Wellton Máximo      Reporter Agência Brasil

Brasília – The federal government took in a record amount of revenue in March of R$82.36 billion. Less inflation (as measured by the Broad Consumer Price Index – “IPCA”), that works out to a real increase of 10.26% over revenue in March 2010.

For the first quarter, the government’s revenue was up over 7%, compared to the same period last year, reaching R$25.678 billion. That was also a new all time record for the period.

A number of factors contributed to the performance: this is income tax season and there was a spike in corporate profits, sales tax revenue and social security system contributions.

However, a drop in industrial production resulted in lower revenue from the industrial product tax (“IPI”), which was down 7.27% for the quarter, compared to the same period last year (although the IPI is also levied on imports, the 7.2% drop refers only to domestic production).

The government is forecasting a slower growth of revenue for the rest of the year, predicting revenue growth for the year of 4.5% to 5%.

Allen Bennett – translator/editor The News in English

Link - Arrecadação de março é recorde, mas Receita prevê ritmo menos intenso de crescimento