Petrobras Announces Unfavorable CARF Decision

(Petrobras, 23.Jan.2019) — Petrobras announced that the Administrative Board of Tax Appeals (CARF) issued yesterday, by a majority vote, an unfavorable decision on a tax administrative proceeding that addresses the collection of Corporate Income Tax (IRPJ) and Social Contribution on Net Profits (CSLL), related to 2012, on profits earned by controlled and subsidiary companies abroad, in the approximate amount of R$ 1.7 billion.

Petrobras awaits the notification and will appeal to the Superior Chamber of CARF. The company understands that the judgment does not change the classification of expectation of possible loss.

The information regarding this process is presented in the financial statements (ITR) of the 3rd quarter of 2018, in explanatory note 28.3 (Contingent liabilities).

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