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Petrobras Was a Defeat in an Arbitration Over Tax in the Amount of R$ 1.5 Billion

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Petrobras said Artitrage Court issued an unfavorable decision to the state in a tax administrative proceeding regarding the collection of the 2010 Corporate Income Tax (IRPJ), in relation to the profit earned by subsidiaries and affiliated companies abroad, in the approximate amount of 1.5 billion reais.

In a statement on Thursday, the oil company said it awaits the subpoena of the decision of the Administrative Council of Tax Appeals and will appeal to the Judiciary.

“The company understands that the judgment does not change the classification of possible expectation of loss,” the company added.