(Petrobras, 24.Feb.2021) — Petrobras CEO Roberto Castello Branco provides comments from senior management on 2020 in the company’s year-end tax report.
Petrobras and society witnessed an unprecedented crisis, which affected all of us in 2020. In line with our commitment to people, the environment and security, we are engaged in the fight to mitigate the effects of the pandemic. We act quickly and adopt a series of measures in order to preserve the health of our employees in the operational and administrative areas.
The 2020 fiscal report aims to detail the cash outflow executed by Petrobras for the purpose of collecting taxes and government interests, confirming its commitment to transparency and evidencing its contributory production for a society.
The payments made by Petrobras, as fulfilled in this report, cover two types of taxes: (i) company’s taxes, that is, those calculated and collected by the company itself, or owed by the company but withheld by third parties; (ii) the taxes calculated by the company but due to sales occurred in subsequent operations carried out by third parties, a situation in which the condition of tax substitute is attributed to Petrobras, in addition to the taxes of third parties withheld on purchases of Goods and Services from its Suppliers.
In this report, we detail the information related to the R $ 128.7 billion in taxes and government interests in Brazil, as a contribution from Petrobras in 2020. However, it should be noted that this information is based on a cash basis, and not on an accrual basis. Therefore, the amounts attributed below represent the effective payment of tax to government tax authorities
“We ratify our purpose of providing energy that ensures ethical, safe, and competitive prosperity. This is the second year that we disclose the Fiscal Report, and we include in this report the information and data on taxes paid abroad, showing our commitment to transparency ”, says Andrea Marques de Almeida, CFO.
“Petrobras faced a crisis without precedents and proved its resilience throughout 2020. We act quickly and with responsibility, in order to preserve lives and the company’s financial sustainability. Even facing the pandemic and the significant reduction in prices, we maintained a relevant contribution to governments, whether through the payment of taxes, government shareholdings, or donations. We will continue to operate with high productivity, low costs and respect for people, the environment and safety, with the aim of being the best energy company in the generation of value in the long term, contributing positively for society and for Brazil. ” synthesizes Roberto Castello Branco, CEO.
____________________
