Wednesday, December 11, 2019

Petrobras Receives Unfavorable Tax Ruling

January 23, 2019

© Celso Pupo / Adobe Stock

Petroleo Brasileiro SA (Petrobras) has received an unfavorable ruling from a tax court in a 1.7 billion reais ($445.70 million) dispute involving corporate tax charged in 2012 on overseas companies it controlled, the Brazilian state-run oil company said in a securities filing on Wednesday.

Petrobras said it will appeal the decision.

($1 = 3.8142 reais)

(Reporting by Ana Mano; editing by Jason Neely)

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