Wellton Máximo        Reporter Agência Brasil

Brasília – The slowdown in the Brazilian economy, with a decline in federal tax revenue, has not been worse due to a strong job market – a formal job market with workers on-the-books, paying taxes.

According to the latest numbers from the IRS (“Receita Federal”), revenue at the Social Security system was up 5.88% in June, compared to June 2011. At the same time, retail sales were strong enough to register a real increase of 5.38% in the PIS/Cofins taxes.

As industrial sector output slowed (reducing tax revenue on the production of domestic goods), an increase in imported goods resulted in a jump of 16.37% in revenue from import surtaxes. 

Allen Bennett – translator/editor The News in English

Link - Desaquecimento da economia e desonerações fazem arrecadação federal cair 6,55% em junho