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Brazil tax revenues rise in December for second straight month
January 23, 2013 / 6:21 PM / 5 years ago

Brazil tax revenues rise in December for second straight month

* Tax revenues rise to 103.246 billion reais - gov’t

* Federal tax collection rises 0.70 pct in 2012 from 2011

BRASILIA, Jan 23 (Reuters) - Brazil’s federal tax collection rose slightly in December from the same month a year earlier, marking the second increase in a row, official data showed on Wednesday.

Tax revenues had fallen for five straight months through October as the government offered several tax breaks to shore up local industries and revive economic growth.

Federal tax revenues rose 0.96 percent in December compared with December 2011 to 103.246 billion reais ($50.7 billion), in line with the median of eight forecasts in a Reuters poll, the federal tax authority said.

In November, the federal government collected 84 billion reais in taxes.

President Dilma Rousseff’s government collected 1.029 trillion reais in taxes last year, 0.70 percent up from 2011.

Unsure about the pace of recovery in 2013, the government has considered lowering a key budget target, but Finance Minister Guido Mantega opposes the idea, two sources told Reuters.

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