Brazil’s Tax Revenue Hits New Record in May Driven by Imports

Brazil’s federal government collected more tax money in May 2025 than ever before for that month, bringing in R$230.15 billion (about $42 billion). This is 7.66% more than in May 2024, according to official data from the Federal Revenue Service.

From January to May, the government collected R$1.19 trillion (about $217 billion), which is almost 4% higher than the same period last year. A big reason for this increase is that Brazil imported more goods.

In 2024, imports reached $262.5 billion, which was 9% higher than the year before.  When Brazil brings in more goods from other countries, it collects more taxes on those imports.

In fact, taxes on imports and related products grew by over 30% in the first eleven months of 2024. The government also made new rules for online shopping from abroad.

Since August 2024, people who buy products online from other countries pay more taxes, which added hundreds of millions of reais to the government’s income.

Other taxes, like those taken from salaries and business profits, also went up. Social contributions such as PIS/Pasep and Cofins increased by about 19%, and social security taxes rose by over 5%.

Brazil’s Record Tax Revenues Show Economic Momentum

Changes in how the government taxes investment funds and money sent abroad also brought in more money, especially from foreign investors. However, not every part of the country saw gains.

Severe floods in the state of Rio Grande do Sul in April and May caused businesses to lose money and pay less tax. The government estimates that this disaster reduced May’s tax revenue by R$4.4 billion (about $800 million).

Brazil’s government wants to balance its budget and avoid spending more than it earns. This record tax collection helps the country move closer to that goal.

For businesses and investors, these numbers show that Brazil’s economy is growing, people are buying more, and the government is finding ways to collect taxes more effectively.