Brazil’s federal government collected 239.4 billion reais in taxes in September, according to Receita Federal, the tax authority. That is a real increase of 5.6 percent over September last year, when collection stood at 226.6 billion reais after inflation adjustment. It is the highest figure for any September since the series began in 1995.
Growth and tax changes drive the gain
The tax service links the result to economic growth. Several tax increases announced in recent years also contributed, including measures on funds, offshore holdings, fuel, payroll, the IOF financial transactions tax and interest on equity. Higher oil prices linked to the US-Iran war also lifted royalty and extraction revenues. The government separately set an extra tax on exports.
Collection for January to September reached 2.38 trillion reais after inflation adjustment, against 2.23 trillion a year earlier. Measured in nominal terms, the nine-month total was 2.35 trillion reais. Real growth for the period comes to 7 percent.
Fiscal target still a stretch
The government’s 2026 target is a primary surplus of 0.25 percent of GDP, equal to 34.3 billion reais. A tolerance band of 0.25 percentage points applies under the fiscal framework approved in 2023. Within that band, a surplus of 68.6 billion reais would still count as meeting the target.
The government may also exclude up to 57.8 billion reais of expenses from the calculation. Even so, the article projects an actual 2026 deficit of 23.3 billion reais.
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Source: Receita Federal
