Clipping of news on Brazilian Culture, Law and Citizenship
07/25/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Collected volume of R$ 81.1 billion in June is below expectations and not only is lower due to increased collection of Social Security
The collection of the IRS in June amounted to 81.10 billion reais. The result represents a real decrease (with correction IPCA) of 6.55% over the same month last year - the first decline recorded in the year in this comparison. For May, the collection of June grew by 3.94%.
The collected amount of federal taxes in June was below the median of analysts' forecasts of 82.9 billion reais. The range of estimates was 80 billion dollars to 88 billion reais. In the first half, revenues total 508.555 billion reais, an increase of 3.66% over the same period of 2011.
Deceleration - The pace of growth in the first half of the collection is already below the forecast of the Internal Revenue Service, which works with an estimated high of 4% to 4.5% this year. The prediction of the organ, however, does not include the revision of GDP growth for 2012 from 4.5% to 3%, as disclosed in the report of Receipts and Expenditures of the Ministry of Planning.
Since March, the collection has been slowing. Accumulated in the first quarter, real high was 7.32%, falling to 6.28% in the first quarter. A new loss rate was recorded in May, when the increase in tax collection rose to 5.83%, reaching now, at the close of the semester, an increase of only 3.66%. The tax collection in June was reduced Real 6.55% compared to June 2011.
Reasons - Among the reasons given by the recipe for poor performance is 4.26% drop in industrial production in June compared to the same month last year. The agency also placed on the list of reasons for the unfavorable performance of the reduction of 5.87% of the dollar value of imports.
In the first half, the collection also shows deceleration of growth. The growth in revenues administered by the IRS (which excludes taxes and charges levied by other agencies), who came to hit 6.68% in March, has now dropped to 3.04% from January to June.
Pension - According to data from the Revenue, 73.21% revenue growth was managed on behalf of pension revenue collection, which totals in the year 141 668 000 000 reais. The performance shows an increase of 10.676 billion dollars over the same period last year, equivalent to a real high of 8.15%.
The collection of the Import Tax (II) and the IPI tax on industrialized products linked to imports, are also helping the government this year. Revenue for the data, the collection of these two taxes rose by 17.73% in the first half (most of the taxes), ensuring increased revenues of 3.403 billion reais in the first half.
The collection of Income Tax of Legal and Social Contribution on Net Income (CSLL) ensured an increase of 4.092 billion reais in the year. This performance is considered weak, and the collection of these two taxes suffers from reduced corporate profitability.
Revenue for the data, the collection of income tax and social contribution had real high of just 4.70% in the first half. The Cofins and PIS, two thermometers taxes considered in economic activity, registered in the year an increase of only 2.90%, an increase of 2.974 billion reais.
(With State Agency)
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This article was translated by an automatic translation system, and was therefore not reviewed by people.