Brazil’s Petrobras sees $1.9 billion hit to second quarter results from tax debits

SAO PAULO (Reuters) – Brazilian state-run oil company Petrobras said on Wednesday that its second-quarter results will be hit by a 6 billion reais ($1.9 billion) charge to include debits from changes to a pension fund scheme in its tax normalization program.

Petroleo Brasileiro SA said in a filing that it will make a total payment of 4.3 billion reais in taxes, with 1.3 billion reais up front and the rest in 145 monthly installments starting in January 2018.

Reporting by Luciano Costa; Editing by Leslie Adler

Categories: Financial, Petrobras

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