UPDATE 1-Brazil's Gol reverses loss in Q4; EBITDA soars

* Gol reverses loss yr/yr as sales, tax credits rose

* Seeks increase in capital equal to declared dividend

* EBITDA soars 66 pct on currency, cost cuts (Recasts to give details on results, CEO comments)

SAO PAULO, March 11 (Reuters) - Gol Linhas Aereas (GOLL4.SA)(GOL.N), Brazil's second-largest airline, returned to profit in the fourth quarter as revenue rose faster than costs and it made use of tax credits.

The Sao Paulo-based air carrier reported on Thursday net income of 397.8 million reais ($225 million) compared with a net loss of 541.6 million reais a year earlier, according to a regulatory filing.

Gol also announced plans to boost the company's capital by 186 million reais, the same amount that management approved for the annual dividend to "strengthen the balance sheet position and help execute our strategic plan going forward," Chief Executive Constantino de Oliveira Junior said in a conference call after the release.

Revenue rose 4.5 percent to 1.62 billion reais in the quarter, while costs and operational expenses rose 0.2 percent to 1.50 billion reais. The company made use of a 351.4 million reais tax credit that helped inflate profits before taxes, the filing said.

EBITDA, a gauge of operational profit that stands for earnings before interest, tax, depreciation and amortization, surged 66 percent to 145.6 million reais, as a stronger currency slashed fuel and plane leasing expenses.

Shares of Gol rose 0.7 percent on Thursday to 24.38 reais.

($1=1.77 reais) (Reporting by Guillermo Parra-Bernal; Editing by Gary Hill)