Fiscal notification on remittances abroad for payments of vessel charters

Rio de Janeiro, January 2, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that received today a fiscal notification by the Federal Revenue of Brazil, requiring payment of withholding income tax (IRRF), contribution of intervention in the economic domain (CIDE) and social contributions (PIS and COFINS) on remittances abroad for payment of vessel charters, regarding 2013 fiscal year, in the amount of R$ 17 billion, of which R$ 7 billion refers only to IRRF. According to the Federal Revenue, the executed agreements were related to services and not to vessel charters, reason for these tax requirements.
This amount is in addition to the value disclosed in Petrobras’ financial statements (ITR) for the 3rd quarter of 2017 in disputes of the same nature, totaling approximately R$ 45 billion, according to explanatory note 29.3 – Legal proceedings not provisioned.
Of all these disputes, around 45% are related to IRRF and can be terminated through the installment program adhesion instituted by Law no. 13.586/2017, as disclosed to the market today. The company will evaluate the conditions offered by the program and will submit the decision on the possible adhesion to the competent authorities.
Facts deemed relevant will be timely disclosed to the market.


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