Petrobras – CARF definitive ruling regarding the deductibility of expenses in the development of production for the purposes of calculating taxable income

Rio de Janeiro, May 12, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that today was notified about the final decision in favor of the company of the Administrative Board of Tax Appeals (CARF), in a fiscal administrative proceeding related to the moment of deductibility of expenses incurred by Petrobras in the development of oil and gas production, for the purposes of calculating the Income Tax for Legal Entities (IRPJ) and Social Contribution on Net Profits (CSLL) for the 2009 period, in the amount of R$ 5.8 billion.

The information pertaining to this matter is presented in the financial statements (ITR) of the first quarter of 2017, in the explanatory note 28 (Provisions for legal proceedings –  item 28.3 – Description of tax matters).

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