Petrobras loses Brazil tax case that could cost $1.9 bln -Valor

Mar 2, 2016 

Reuters
Brazil’s state-run oil company Petrobras may be forced to pay 7.3 billion reais ($1.9 billion) in back taxes and fines after a decision by the country’s tax authority Carf, newspaper Valor Economico reported on Wednesday.

Petrobras has not made provisions for the case related to deductions on its 2007 and 2008 filings, which can still be appealed before Carf and the courts, Valor reported.

Petrobras, Carf and the finance ministry did not immediately respond to requests for comment. ($1 = 3.94 Brazilian reais) (Reporting by Brad Haynes; Editing by Jeffrey Benkoe)

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