Petrobras to continue trade after preliminary tax decision

17 June 2013 17:39  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil energy producer Petrobras has received a preliminary decision to continue exporting and importing while a final decision awaits on whether the company owes more taxes to the country's government, Petrobras said on Monday.

According to Brazil's Superior Court of Justice (STJ), the current decision will avoid a lack of supply of fuels, "which is of public utility", the court said on Friday.

A previous decision banned Petrobras to import and export, as it was determined that it owed Receita Federal Brazilian reais (R) 7bn ($3.3bn, €2.5bn) for unpaid income tax.

Petrobras said it already had received a favourable decision from a regional federal court that said the company would not need to pay taxes for chartering its vessels.

($1 = €0.75; $1 = R2.16)

By: Leo Siqueira
+1 713 525 2600

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