The article makes a comparative analysis of financial data from the public policy known as Ecological ICMS and how it is related to the Indigenous Lands in the State of Tocantins. The methodology uses literature and documents research to analyze comparisons of financial resources transfers arising from the Ecological ICMS to the municipalities of Tocantínia and Tocantinópolis, which boundaries overlap the Xerente, Funil, and Apinajé indigenous lands, inhabited by the Xerente and Apinajé peoples. When considering the public data available – which refer to the Ecological ICMS transfers from 2011 to 2015 to the municipalities – we demonstrate the economic importance of the indigenous lands to the public management, noting that they are far from being an obstacle to the local "development". Finally, some anthropological benchmark principles for a balanced proposal concerning the forms of implementation and management of this public policy are pointed out.