Petrobras announces CARF’s favorable decision regarding the deductibility of production development expenses for IRPJ and CSLL calculation purposes

September 18, 2019

Petróleo Brasileiro S.A. – Petrobras informs that today the Administrative Board of Tax Appeals (CARF) issued a favorable decision on a tax administrative process regarding the moment of the deduction of expenses incurred by Petrobras with oil and gas production development, for purposes of Corporate Income Tax (IRPJ) and the Social Contribution on Net Income (CSLL) calculation, in the years of 2012 and 2013, in the approximate amount of R$ 16.4 billion.

The company emphasizes that this contingency´s expectation current classification is remote loss and, therefore, information about this proceeding is not presented in the company’s financial statements. Today’s decision does not change this classification.

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