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This excerpt taken from the PBR 20-F filed May 22, 2009. Other Brazilian Taxes
There are no Brazilian inheritance, gift or succession taxes
applicable to the ownership, transfer or disposition of
preferred or common shares or ADSs by a non-Brazilian holder,
except for gift and inheritance taxes which are levied by some
states of Brazil on gifts made or inheritances bestowed by
individuals or entities not resident or domiciled in Brazil to
individuals or entities resident or domiciled within such states
in Brazil. There are no Brazilian stamp, issue, registration, or
similar taxes or duties payable by holders of preferred or
common shares or ADSs.
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