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Some Data Released on Tuesday, January 24, by the Brazilian Revenue Agency Shows That the Revenue for the Year Had a Real Growth of 8.18% Compared to the Results of 2021. As a Result, the Federal Government Closed 2022 with the Highest Level Ever Registered by the Revenue Agency.
According to the historical series that started 27 years ago, performance reflected the continuity of the economic recovery shortly after the crisis provoked by the Covid-19 pandemic. However, there was also an impetus from rising prices and inflation. Initially, the data released compare the results of 2021 and currently reach over 2.218 trillion reais, a record since 1995.
The real increase in December was 2.47% compared to the same month of December in 2021, totaling 210.2 billion reais. This level is the highest recorded in a month by the Brazilian Revenue Agency. The performance of this revenue throughout the year may reflect the continuity of activity resumption shortly after the crisis. Thus, several taxes are linked to the value of the product sold, and uncontrollable inflation can also boost government earnings.
All revenues managed by the Brazilian Revenue Agency grew 6.6% in real terms in 2022, totaling more than 2.086 trillion reais. Consequently, those managed by other agencies, with a significant collection weight related to oil exploration, rose by approximately 40%, reaching 132.5 billion reais. 2022 was marked by high international prices, primarily for oil, and the impact of the war in Ukraine.
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However, revenue from royalties in 2022 had a real increase of 21% with an addition of 17.3 billion reais. The record of economic division, the largest nominal contributions, came from financial entities such as fuel, financial auxiliary activities, and oil and gas extraction. In 2021, income tax was the main source of revenue, according to the head of the Tax Studies Center, Claudemir Malaquias.
The real increase was recorded in income tax and social contribution on net profit at 17.7% in 2022 with an increase of 73.8 billion reais. Additionally, there was a real growth of 67.2%, over 39 billion reais in income tax collection that is withheld at the source of capital gains. As a result, it had the best performance of fixed-income securities and an increase in the country’s interest rates.
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