Government breaks revenue record in July with R$254 billion
The Federal Revenue Service collected R$254.2 billion in July. This represents the highest figure for the month since 1995. The collection was 4.6% higher than the total for July 2023, when the government collected R$243.1 billion.
The increase in the Tax on Financial Transactions (IOF) boosted the result. A subject of disputes between the Executive, Congress, and the Supreme Federal Court, the IOF increase is expected to generate approximately R$12 billion in additional revenue this year.
The tax was reinstated in July by a decision by Justice Alexandre de Moraes of the Federal Supreme Court (STF). Moraes removed the levy on the risk drawn (a type of advance revenue used by merchants) and ruled out retroactive charging.
Credit operations, foreign currency outflows, and securities trading reinforced the increase. Recent changes in legislation have amplified the impact of these activities. Taxation on online gambling added R$928 million to revenue. The sector has established itself as a new source of federal revenue.
Bets guarantees R$928 million in revenue in JulyFrom January to July, the government collected R$1.68 trillion. This amount has not yet been adjusted for inflation. This result strengthened the 2025 fiscal plan. The government aims to eliminate the deficit without reducing public spending. Furthermore, taxation on online gambling, known as bets, provided a R$928 million boost to public coffers in July.
The fiscal target allows for a deficit or surplus of R$31 billion, a limit equivalent to 0.25% of GDP. Official estimates project a deficit of R$26.3 billion. This figure is below the minimum limit established by the fiscal rule.
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