Federal tax collection in Brazil reached 280.6 billion reais (about US$56.5 billion) in January, marking a real increase of 6.6% compared to the same month last year. The data was released by Brazil’s Federal Revenue Agency (RFB) and represents a record, marking the best month in the entire historical series that began in 1995.

The so-called “tax on the super-rich” in Brazil stands out among the highlights of the January report. This was the first month recorded since the new law on offshore and exclusive funds for investments abroad came into effect, an initiative considered crucial by Finance Minister Fernando Haddad to achieve the zero deficit goal for the year. According to the latest figures, the Federal Treasury collected 4.1 billion reais (US$825 million) through this concept. This unprecedented amount in the balance sheet boosted the performance of tax collection with capital gains.

Without inflation correction, revenues increased by 11.48% in January.