Financial

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s