BRASILIA: Brazilian authorities have secured BRL20bn (USD6bn) in revenue after offering some 342,000 micro and small businesses the opportunity to pay in installments.
The scheme, which launched in December 2016, allows companies with turnover of up to BRL3.6m a year to pay off tax due before May 2016 in 120 monthly installments.
The Federal Revenue Service said it had issued tax collection notices to the businesses previously, with BRL21.3bn said to be due. It has now arranged for collection of 96 percent of this amount, it said.
