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Federal Revenue Sets Successive Collection Records in 2025 and Sparks Debate on the Fiscal Impact of Taxes on Public Accounts.
The federal collection of taxes and contributions totaled R$ 679.7 billion in the third quarter of 2025, according to data released by the Federal Revenue.
The amount is the highest ever recorded for the period since the beginning of the historical series in 1995.
In September alone, collections reached R$ 216.7 billion, also the highest amount ever observed for the month.
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In the accumulated total from January to September, collections reached R$ 2.105 trillion, with a nominal increase of 8.85% compared to the same period in 2024.
According to the agency, the figures reflect a combination of factors, such as job market growth, wage increases, and collections from financial investments, along with regulatory adjustments implemented throughout 2025.
Quarterly Collections and Comparison with Previous Years
Between July and September, collections were 6.9% higher than in the same quarter of the previous year.
The last decline for the period occurred in 2020 during the Covid-19 pandemic, when total collections were R$ 360.3 billion, a value 3% lower than that of 2019.
According to the Federal Revenue, this result confirms the fifth consecutive year of growth in third-quarter collections.
September Records New Monthly High
The month of September showed real growth of 1.43%, after accounting for the inflation measured by the IPCA accumulated over 12 months, and a nominal increase of 6.67% compared to September 2024.
In a statement, the Federal Revenue reported that part of the increase is due to taxes on financial operations and to the positive variation of the Tax on Financial Operations (IOF).
The agency also mentioned the effects of statistical comparison, as in 2024 there were deferred payments from taxpayers in Rio Grande do Sul, which inflated the base for that year.
Year Performance and Real Collection Growth
In the accumulated total up to September, the real increase (above inflation) was 3.49%, considering the sum of R$ 2.105 trillion in revenues managed by the Federal Revenue.
This amount is the highest in the historical series and surpasses the total of R$ 1.9 trillion recorded in the same period of 2024.
Furthermore, according to the agency, collections of social security taxes and taxes on corporate profits and capital income played a significant role in the results.
Sectors and Taxes with the Greatest Variation
According to detailed data from the Federal Revenue, there was significant growth in taxes on income and labor, following the increase in wages.
Meanwhile, taxes related to corporate profits showed smaller variation, in line with fluctuations in economic activity.
Fiscal analysts point out that part of the advance comes from administrative adjustments and measures that widened the tax base, such as revisions of tax benefits and new collection rules.
Monthly Fluctuations and Seasonal Factors
The data shows that the growth trajectory was not linear throughout the year.
After successive increases in the first half of the year, August recorded a real decline, followed by a recovery in September.
Public finance specialists assess that the movement reflects seasonal effects and the behavior of payments concentrated in certain months, a common phenomenon in the execution of the tax calendar.
Fiscal Context and Government Targets
The performance occurs amid the fiscal adjustment promoted by the federal government, which seeks to increase revenue to meet the targets of the fiscal framework and reduce the public accounts deficit.
Consulted economists consider that the result reinforces the capacity to generate revenue, but emphasize that part of the growth is linked to cyclical factors, such as regulatory changes and financial returns, which may fluctuate according to market conditions.
Historical Series and Revenue Composition
Since 2021, third-quarter collections have shown annual growth. The last contraction, in 2020, was associated with the impacts of the pandemic.
Since then, the data indicates a consistent recovery of the tax base, with real increases in revenues directly managed by the Federal Revenue.
In September, this group totaled R$ 210.7 billion, a real increase of 1.88% compared to the same month of 2024.
The revenues not managed by the agency amounted to R$ 6 billion, with a slight real decline in the annual comparison.
