Federal revenue falls 30% in April

Federal tax revenue fell about 30% in April compared to the same period in 2019. The drop in revenues is caused by the lower activity of the economy, due to the closing of trade and industries, and also by the postponement in the collection of taxes promoted by the government to mitigate the effect suffered by companies. There will also be a reduction of R$ 7 billion ($ 1.2 billion) in IOF for credit operations.

Source: Folha