Petrobras has funds denied at Carf and debt of R$ 18 billion becomes definitive| Photo: André Coelho/EFE

The Third Panel of the Superior Chamber of Tax Appeals (CSRF), a member of the Administrative Council of Tax Appeals (Carf), denied Petrobras’ special appeals in the case due to CIDE and PIS/COFINS Import related to payments for chartering vessels for people abroad in 2010, 2011 and 2013, in the approximate amount of R$ 18 billion. The information was released by Petrobras last Tuesday (14).

With Carf’s decision, Petrobras’ debts become final at the administrative level. “After the outcome of the administrative process, the company will adopt the appropriate legal measures to question the collection, as well as guarantee the debt”, informed Petrobras.

According to the statement, “the expectation of loss in this contingency is considered possible, being the subject of an explanatory note in the financial statements and the CARF decision does not imply provisioning in the Company’s Financial Statements”.