Petrobras – Favorable decision by CARF concerning the deductibility of production development expenditures for purposes of IRPJ and CSLL assessment

Rio de Janeiro, October 19, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that the Administrative Board of Tax Appeals (CARF) issued yesterday a decision, unanimously, in favor of the company, in an fiscal administrative proceeding in the amount of R$ 7.8 billion, related to the moment of deductibility of expenses incurred by Petrobras in the development of oil and gas production, for purposes of calculating Corporate Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL), of the 2010 fiscal year.

The information pertaining to this matter is included in the financial statements for the 2nd quarter of 2017, under explanatory note 29 (Provisions for legal proceedings – item 29.3 – Contingent liabilities).

Categories: Financial, Petrobras

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