Tax revenue increased by R$1.8 billion in April after a decree issued by the government in 2025
IOF (Financial Operations Tax) collection totaled R$8.1 billion in April 2026, a real increase of 29.5% compared to the same month in 2025. The data was released by the National Treasury this Thursday (May 28, 2026). Read the report (981.7 kB – PDF)
The increase represented an additional gain of R$1.8 billion for public coffers in the period and helped to boost the growth of federal revenues in the month.
From January to April 2026, IOF revenue reached R$33.7 billion, a real growth of 40.5% compared to the same period of the previous year. The advance represented an increase of R$9.7 billion in values adjusted for inflation.
According to the National Treasury, the growth in revenue was mainly due to the greater volume of credit and exchange transactions taxed after the changes promoted by the government.
The fiscal report also indicated that the Union’s total net revenue grew 5.8% above inflation in April, while expenses increased 3.3%.
The economic team has argued that the reinforcement of revenues is necessary to limit the growth of the public deficit without increasing expenditure blocks.
UNDERSTAND
The increase in revenue mainly reflected the changes implemented by the government in tax rates in 2025. The IOF became one of the main ways to increase revenue and try to ensure compliance with the fiscal targets established by the fiscal framework.
The president’s government (PT) issued, in May 2025, decrees that increased the IOF rates on credit, exchange and private pension operations. The measure was part of the fiscal package presented by the then Minister of Finance, Fernando Haddad, to increase federal revenue and reduce pressure on public accounts.
The changes affected operations such as international card purchases, remittances abroad, credit for companies and large contributions to private pensions of the VGBL type.
Part of the decree was resisted by the National Congress and the financial sector. After negotiations between the Ministry of Finance and party leaders, the government backed down on some points and published a new version of the rules in June 2025.
Even with subsequent changes and legal disputes over the validity of the measures, the fiscal impact began to appear on federal revenues throughout 2026.
