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PBR » Topics » Plaintiff: Federal Revenue Service - Contribution of Intervention in the Economic Domain Charge- CIDEThis excerpt taken from the PBR 20-F filed May 22, 2009. Plaintiff:
Federal Revenue Service - Contribution of Intervention in
the Economic Domain Charge- CIDE
The Federal
Revenue service filed a Tax Assessment against the Company in
connection with the failure by Petrobras to withhold CIDE
(Contribution of Intervention in the Economic Domain Charge) on
propane and butane import operations. The lower court considered
the assessment to have grounds. Petrobras filed a voluntary
appeal which is awaiting judgment. The maximum exposure for
Petrobras, including monetary restatement, as at
December 31, 2008, is US$78. Based on its legal
counsels’ advice, the Company has assessed risk of loss to
be possible.
This excerpt taken from the PBR 6-K filed Mar 30, 2009. Plaintiff: Federal Revenue Service - Contribution of Intervention in the Economic Domain Charge- CIDE The Federal Revenue service filed a Tax Assessment against the Company in connection with the failure by Petrobras to withhold CIDE (Contribution of Intervention in the Economic Domain Charge) on propane and butane import operations. The lower court ruled considered the assessment to have grounds. Petrobras filed a voluntary appeal which is awaiting judgment. The maximum exposure for Petrobras, including monetary restatement, as at December 31, 2008, is US$78. Based on its legal counsels’ advice, the Company has assessed risk of loss to be possible. 137 This excerpt taken from the PBR 6-K filed Mar 18, 2008. Plaintiff: Federal Revenue Service - Contribution of Intervention in the Economic Domain Charge- CIDE The Federal Revenue service filed a Tax Assessment against the Company in connection with the failure by Petrobras to withhold CIDE (Contribution of Intervention in the Economic Domain Charge) on naphtha import operations resold to Braskem. The lower court ruled, by a majority decision, that the charge was correct. Petrobras filed a voluntary appeal which is awaiting judgment. The maximum exposure for Petrobras, including monetary restatement, as at December 31, 2007, is US$765. Based on its legal counsels’ advice, the Company has assessed risk of loss to be possible. | EXCERPTS ON THIS PAGE:
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