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Brazil’s Tax Revenue to Fall by 10 Billion Reais This Year

Brazil’s tax revenue estimate for 2012 was reduced by 10 billion reais ($4.9 billion) to 690 billion reais, according to a report by the Planning Ministry released May 18.

The previous estimate was for tax revenue of 700 billion reais, according to the first budget monitoring report released earlier this year.

Brazil’s total revenue estimate for 2012 was increased by 3.4 billion reais, with higher forecasts for dividends and concessions revenues compensating for the drop in tax revenues, according to the report.

To contact the reporter on this story: Arnaldo Galvao in Brasilia Newsroom at agalvao1@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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