- CNTV English - CCTV News

Homepage > News > Biz >

Brazil's tax burden drops for the 1st time since 2006

09-03-2010 16:06 BJT

RIO DE JANEIRO, Sept. 2 (Xinhua) -- Brazil's tax/GDP ratio fell from 34.41 percent in 2008 to 33.58 percent in 2009, the first fall of the nation's tax burden since 2006, the government said Thursday.

The dip can be attributed to the global financial crisis, which led to a 2.61-percent fall in the tax collection and a 0.2-percent contraction in the GDP figures in 2009, according to the Federal Revenues Secretariat.

It noted that the government cut taxes for several times last year, aimed at maintaining the consumption levels higher and minimizing the crisis' effects in the Brazilian economy.

In 2009, the federal taxes accounted for 23.45 percent of the GDP, down from 24.12 percent in 2008. The state taxes accounted for 8.59 percent of the GDP, from 8.75 percent in 2008, and the municipal taxes, for 1.54 percent of the GDP, roughly the same figures registered in 2008.

Despite the fall, Brazil's tax burden remained the highest among emerging economies, and surpassed some developed economies' as well.

The country's tax burden exceeds the figures registered in Mexico (20 percent of the GDP), Argentina (29 percent), United States (27 percent), and Spain (32 percent).

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program