Brasília - The deputy secretary of the Brazilian IRS (Receita Federal), Ricardo Pinheiro, says that record February tax collection, totalling US$13.085 billion (R$27.568 billion) was due to "...continued, sustained strong economic performance in general and efficient tax administration."

February 2006 tax revenue was up 4.58% over February 2005, bolstered by a 40% increase in tax revenue from vehicle sales (which were up almost 13%). However, in spite of the strong performance, because February has fewer working days, tax revenue was actually down 15.2% when compared to January 2006.

Translation: Allen Bennett: