For the second consecutive month, the Alagoas Finance Department records a historic collection record, surpassing the R$600 million mark in ICMS revenue in a single month. Sefaz released the results of the October collection. Last month, ICMS closed at R$633.1 million, the highest volume collected in history.
Compared to the previous record, in September, (R$602 million), the growth is 5%. In relation to the same month of the previous year, when R$531.8 million were collected, the growth was R$101 million or 19.1%
In the first ten months of the year, Alagoas collected R$5.8 billion in ICMS, an increase of 11% compared to the R$5.18 billion collected between January and October 2022. Revenue performance improved significantly after the beginning of the second semester. Until June, for example, accumulated growth was 5.02%.
According to Sefaz’s assessment, the growth in ICMS revenue reflects the performance of the economy in Alagoas, but the strong variation, according to the special secretary of Revenue in Alagoas, Kiko Suruagy, is due to the ICMS comparison basis, which was at a low from July last year due to changes in fuel and energy taxation.
In mid-2022, the new ICMS legislation on fuels and energy came into force, which “dropped” revenue in all States. Alagoas started to have monthly losses of up to R$100 million. With the implementation of measures to contain the damage (including the increase in tax rates), revenue began to react to from May this year.