Brazil registers record-high tax collection in 2008

RIO DE JANEIRO, Jan. 27 (Chinese media) -- Brazil registered a record-high tax collection of 685.6 billion reais (295.2 billion U.S. dollars) in 2008, up 7.68 percent from 2007, Brazil's Secretariat of the Federal Revenue announced on Tuesday.

In December, Brazil registered a tax collection of 66.2 billion reais (28.5 billion dollars), up 20.67 percent from November but down 4.71 percent from December 2007.

According to the Secretariat, compared with November, the sharp increase was caused by Christmas bonuses and investment funds.

Compared with 2007, tax collection on Industrial Products was up 32.89 percent in 2008, while tax collection on net profits was up 20.73 percent. But tax collection on the import of petroleum and byproducts fell 28.95 percent last year.