Tax cause can yield up to R$ 16.9 billion to Petrobras

On the night of Last Wednesday (29), Petrobras said it could obtain up to 16.9 billion reais after obtaining a favorable decision in a process in which it sought to recover contributions of PIS and Cofins overpaid. According to the state, there would have been a charge beyond the due due due to the inclusion of ICMS in the basis of calculation of contributions from October 2001. 

According to the note released by the company, the amounts will be recognized in the financial statements for the second quarter of 2020. "The use of the credit will be done by compensating federal taxes, after the necessary regulatory procedures," he added.