BRASILIA, May 19 (Reuters) - Brazil collected 110.895 billion reais ($30.79 billion) in federal taxes in April, the government said on Thursday, down 7.1 percent from a year earlier when adjusted for inflation and below market expectations.
The country collected 96 billion reais in federal taxes in March, according to Brazil’s tax agency.
Plummeting tax revenue during the nation’s recession has eroded Brazil’s fiscal accounts, widening a record deficit that has cost the one-time emerging-market star its coveted investment-grade rating. April tax revenue was expected to total 112 billion reais, according to the median forecast in a Reuters poll.
$1 = 3.6019 Brazilian reais Reporting by Marcela Ayres; Writing by Silvio Cascione; Editing by Chizu Nomiyama