Tax revenue in March lowest in a decade

tax brazil

The Brazilian federal government raised BRL 109.7 billion (USD 20.35 billion) in taxes in March. This was the lowest level for the month since 2010, when the country was still feeling the effects of the 2008-2009 global financial crisis. According to federal tax authorities, the numbers are a direct result of the coronavirus crisis — which has nearly halted the in-person economy since the World Health Organization declared a pandemic on March 11.