Brazil's April Fedl Revenue BRR11.82B vs BRR13.35B March
Dow Jones Newswires
BRASILIA -- Brazil's federal revenue in April dropped to 11.82 billion
reals ($1=BRR1.6640) from BRR13.35 billion the previous month, Federal
Revenue Department Secretary Everardo Maciel said Wednesday.
Of the April total, BRR11.20 billion corresponded to tax collections and
BRR62 million came from dividends and privatization receipts, Maciel
said.
He said that, in real terms, April's tax revenue grew 3.9% from the same
month last year.
In nominal terms, federal revenues in the first four months of 1999
stood at BRR48.13 billion, up from BRR47.54 billion in 1998.
Maciel said January-April tax revenue grew 3% in real terms, due to
one-off receipts originating from the settlement of a long-standing
legal dispute with corporate taxpayers.
"This is a significant increase since we didn't have CPMF revenues in
February and March, as we did last year," Maciel said, referring to the
financial transaction tax that Congress failed to extend last December,
but has since been re-authorized. Maciel said the CPMF produces revenue
of some BRR700 million per month.
He noted that the increase in another financial transaction tax, called
IOF, compensated for only 40% of the CPMF losses. |
