(Petrobras, 1.Feb.2023) — Petrobras informs that, in a session held today, the First Panel of the Superior Chamber of Tax Appeals (CSRF), a body of the Administrative Board of Tax Appeals (CARF), rejected the appeals filed by the company and decided that IRPJ and CSLL taxes are due on the profits of its foreign subsidiary for the 2011 and 2012 fiscal years.
The decision was taken upon the special vote (with tie-breaking power) of the president of the First Panel, based on Provisional Measure n° 1160/2023, after a tie among the members of the panel.
As a result of this decision, the tax debts, which currently total about R$5.7bn, became definitive at the administrative level. Therefore, Petrobras will take the appropriate judicial measures to challenge such tax liability, as well as guarantee the debt.
The expectation of loss of this contingency is considered possible and is further described in an explanatory note in the company’s financial statements.