Petrobras; Concession holders in Brazil face hefty bill

Companies from Brazilian state oil company Petróleo Brasileiro SA to commodities giant Louis Dreyfus Company and German car giant Volkswagen AG (VOWG_p.DE) could face hefty bills after Brazil’s Supreme Court this month allowed local governments to charge property taxes to operators of public concessions.

The ruling settled an 18-year old spat between Petrobras (PETR4.SA), as the state-controlled oil company is known, and the city of Santos, home of Brazil’s busiest container port.

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