Total federal tax collection totaled R$261.9 million in October, the highest value ever recorded for the month. The result represents real expansion (above inflation for the period) of 0.92% compared to the same period last year.
In the first ten months of the year, federal revenues reach R$ 2.4 trillionrepresenting real increase of 3.2% compared to the same period in 2024.
You data was released this Monday (24) by the Federal Revenue Service, in Brasília.
“It is important to note that this is the best fundraising performance, both for October and for the accumulated period”, highlighted the institution.
The values refer to federal taxes, such as Income Tax for individuals and companies, social security revenue, Import Tax, Tax on Industrialized Products (IPI), Tax on Financial Operations (IOF), PIS/Cofins, among others. Collection with royalties and judicial deposits, which are not determined by the Federal Revenue Service, also enter the account.
Highlights
When detailing the evolution of taxes, the Federal Revenue highlighted the IOF, which totaled R$8.1 million in October 2025, an increase of 38.8% compared to the same month last year.
“This performance can be justified by operations related to the outflow of foreign currency and credit operations aimed at legal entities, both resulting from recent changes in legislation”, cites the Revenue.
In June this year, the government increased collections in some credit operations, through Decree 12,499/2025. The measure was knocked down later.
Another highlight highlighted by the IRS was the IRRF-Capital (tax charge on profits from financial investments). Collection reached almost R$11.6 million, representing a real increase of 28.01% compared to October 2024.
The Revenue explains that performance is related to the profit that investors made in fixed income investments and Interest on Equity (JCP) ─ a way for a company to share part of the profit with shareholders.
Deceleration
Despite the record in the first ten months of the year, which represented a jump of 3.2% compared to the same period in 2024, performance shows deceleration, that is, revenue growth has lost strength.
In July 2025, the evolution reached 4.41%, but the positive difference was reducing month by month.
The head of the Center for Tax and Customs Studies at the Federal Revenue, Claudemir Malaquias, recognizes that this collection behavior is a reflection of the economic slowdown in the country.
“We continue to grow, but at decreasing rates, at lower rates.”
He adds that the result is no surprise, as it follows projections from the Ministry of Finance itself and financial market agents.
“A certain contraction in economic activity was already expected,” says Malaquias, who draws attention to the resilience of some factors, such as the services sector and workers’ wage bill.
Interest brake
The aforementioned loss of momentum is a direct effect of the monetary policy (interest rate control) exercised by the Central Bank (BC). The economy’s basic interest rate, Selic, is 15% per year, the highest level since July 2006 (15.25%).
The B.C. keeps interest rates high as a way of cooling the economy and bringing down inflation, which has been above the government’s target for 13 months, of 3% per year with a tolerance of 1.5 percentage points more or less, reaching up to 4.5%.
In October, official inflation accumulated 4.68% in 12 monthsbut on a downward trend.
“Tax collection is one of the thermometers of economic activity. When tax collection is doing well, we usually say that economic activity, responsible for the majority of the tax revenue, is also doing well”, concludes Malaquias.
Bet revenue explodes
Revenue from gambling and betting activities rose almost 10,000% in October 2025 compared to the same month in 2024.
The explanation is in regulation of the activity of virtual betting houses, known as bets, which only came into effect in 2025.
The comparison was extremely high as these platforms paid much less taxes. In October 2024, revenue from these activities was R$11 million, a value that jumped to R$1 billion in October 2025.
In the first ten months of 2025 compared to the same period in 2024, the increase was more than 16,000%, going from R$49 million to R$8 billion.
