The federal government’s collection of taxes and contributions totaled 226.7 billion reais in November 2025, according to data released by the Federal Revenue Service. The value represents real growth of 3.75% compared to the same month last year, already taking into account inflation measured by the IPCA. With this result, November 2025 marks the best monthly performance in terms of income since 1995, the start of the historic series, both in nominal and in real value.
Of the total collected during the month, BRL 214.4 billion corresponds to revenues administered by the Federal Revenue, such as income tax, IPI, PIS/Cofins and IOF. This amount represents real growth of 1.06% compared to November 2024.
From January to November, federal revenues reached 2.59 trillion reais, a real increase of 3.25% compared to the same period last year. As with the monthly data, this is the best result in the historical series for this interval, which began in 1995.
Considering only the revenues administered by the Federal Revenue Service, the total collected between January and November amounted to 2.48 trillion reais, with a real growth of 3.90% compared to 2024. If we do not take into account the extraordinary factors and legislative changes that affected last year’s basis of comparison, the real growth amounts to 4.51%.
Federal revenue collection performance
data for the months of November over the years
Source: Federal Revenue
What Boosted Revenues in November
According to the Federal Revenue Service, the positive income performance in November was mainly influenced by three factors:
- Significant increase in IOF, which raised 8.6 billion reais during the month, with a real growth of 39.95%, driven by recent changes in legislation and the increase in credit and foreign exchange operations;
- Growth in social security revenues, which totaled 58.4 billion reais in November, reflecting the increase in the wage bill and the positive balance of job creation;
- Positive performance of PIS/Cofins, mainly driven by the growth of the services sector and the grouping of financial entities
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