Brazil’s federal tax revenue rose to a record R$289.35 billion in July, the highest value for any July since the government began tracking the data in 1995.
The real increase of 8.97% compared with July 2025 exceeded inflation, driven by higher collections in social security contributions, fixed-income investment yields, interest on equity and corporate income tax.
Revenue administered by other government bodies climbed 28.87% in real terms year-over-year, supported by oil royalties that benefited from elevated international crude oil prices amid the war in Iran.
For the first seven months of 2026, total tax collection reached R$1.877 trillion, a 6.98% real increase versus the same period last year. The expansion outpaced consumer price growth, underscoring stronger-than-expected economic activity.
The data, published by the Receita Federal on Tuesday, reflects broad-based revenue growth across tax categories, with no single component dominating the increase. The record July figure follows a sustained period of fiscal consolidation under President Luiz Inácio Lula da Silva’s administration.
