Petrobras loses $2 billion tax dispute

Brazil’s state-run oil firm Petrobras has lost an appeal over R$9 billion ($2.14 billion) of disputed taxes, but it will “take the appropriate judicial measures in its defence,” the company said. The procedures refer to the collection of taxes on remittances sent abroad for the payment of freights contracts in the years 2011 and 2012. “The company understands that the trial does not change the classification of the possible loss expectation,” the company added.

Source: G1 Globo