Business & Finance

Brazil tax revenues jump in October on asset amnesty program

BRASILIA: Extraordinary revenues from an amnesty program helped Brazil collect 148.

Published November 25, 2016 Updated November 25, 2016 05:18pm

1 min

By Fawad Maqsood

Add BRecorder as a trusted
source on Google

BRASILIA: Extraordinary revenues from an amnesty program helped Brazil collect 148.699 billion reais ($43.4 billion) in federal taxes in October, up 33 percent from a year earlier when adjusted for inflation, the government said on Friday.

October tax revenue had been expected to total 110 billion reais, according to the median forecast in a Reuters poll. The taxes and fines collected under the amnesty program for undeclared assets abroad were expected to help the government meet its 2016 budget target.

Read Comments