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PBR » Topics » 18.1 Recoverable taxes

This excerpt taken from the PBR 6-K filed Nov 19, 2009.

18.1 Recoverable taxes

        R$ thousand     
     
Current assets    Consolidated    Parent Company 
     
    09.30.2009    06.30.2009    09.30.2009    06.30.2009 
         
In Brazil:                 
ICMS    2.200.839    2.493.247    1.539.987    1.850.570 
PASEP/COFINS    1.416.125    1.209.180    1.063.290    933.956 
CIDE    33.378    33.039    31.483    31.283 
Income tax    1.061.978    2.245.516    368.373    1.650.603 
Social contribution    202.913    817.441    12.553    664.385 
Deferred income tax and social contribution    2.287.366    2.147.748    2.003.933    1.854.286 
Other taxes    422.138    440.064    229.267    226.849 
         
    7.624.737    9.386.235    5.248.886    7.211.932 
         
Abroad:                 
Added value tax - VAT    106.909    156.468         
Deferred income tax and social contribution    54.615    40.665         
Other taxes    331.805    548.359         
         
    493.329    745.492    0    0 
         
    8.118.066    10.131.727    5.248.886    7.211.932 
         

This excerpt taken from the PBR 6-K filed Sep 10, 2009.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    June 30,    December 31, 
    2009    2008 
     
 
Local:         
   Domestic value-added tax (ICMS) (1)   2,644    1,924 
   PASEP/COFINS (2)   3,349    2,622 
   Income tax and social contribution    1,735    1,176 
   Foreign value-added tax (IVA)   67    113 
   Other recoverable taxes    353    541 
     
 
    8,148    6,376 
     
 
Less: Long-term recoverable taxes    (4,132)   (3,095)
     
 
Current recoverable taxes    4,016    3,281 
     

(1)
Domestic value-added sales tax (ICMS) is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature. 
   
(2)
Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable. 

The income tax and social contribution recoverable will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

34

Table of Contents

This excerpt taken from the PBR 6-K filed Aug 18, 2009.

18.1 Recoverable taxes

        R$ thousand     
   
Current Assets    Consolidated    Parent Company 
     
    06.30.2009    03.31.2009    06.30.2009    03.31.2009 
         
In Brazil:                 
ICMS    2.493.247    2.593.783    1.850.570    1.974.995 
PASEP/COFINS    1.209.180    1.252.180    933.956    941.071 
CIDE    33.039    35.880    31.283    34.584 
Income tax    2.245.516    2.039.717    1.650.603    1.510.294 
Social contribution    817.441    797.605    664.385    664.238 
Deferred income tax and social contribution    2.147.748    1.405.267    1.854.286    962.053 
Other taxes    440.064    411.120    226.849    226.545 
         
    9.386.235    8.535.552    7.211.932    6.313.780 
         
Foreign:                 
Value Added tax - VAT    156.468    255.166         
Deferred income tax and social contribution    40.665    42.685         
Other taxes    548.359    411.152         
         
    745.492    709.003         
         
    10.131.727    9.244.555    7.211.932    6.313.780 
         

This excerpt taken from the PBR 6-K filed Jun 1, 2009.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    March 31,    December 31, 
    2009    2008 
     
 
Local:         
   Domestic value-added tax (ICMS) (1)   2,086    1,924 
   PASEP/COFINS (2)   2,825    2,622 
   Income tax and social contribution    1,327    1,176 
   Foreign value-added tax (IVA)   92    113 
   Other recoverable taxes    377    541 
     
 
    6,707    6,376 
     
 
Less: Long-term recoverable taxes    (3,396)   (3,095)
     
 
Current recoverable taxes    3,311    3,281 
     

(1) Domestic value-added sales tax (ICMS) is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.

(2) Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable.

The income tax and social contribution recoverable will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

31

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This excerpt taken from the PBR 6-K filed Mar 31, 2009.

20.1 Recoverable taxes

Current assets    Consolidated    Parent company 
     
 
    2008    2007    2008    2007 
         
In Brazil                 
 ICMS    2.527.495    2.878.563    1.916.608    2.455.357 
 PASEP/COFINS    1.323.099    1.545.852    883.206    1.030.782 
 CIDE    222.938    239.259    34.008    32.385 
 Income tax    2.005.575    723.234    1.460.462    271.363 
 Social contribution    801.491    156.105    663.702    25.990 
 Deferred income and social contribution taxes    1.658.708    1.418.173    1.090.270    1.122.215 
 Other taxes    408.943    319.108    224.905    187.125 
         
 
    8.948.249    7.280.294    6.273.161    5.125.217 
         
Abroad                 
 Added value tax - VAT    313.039    217.786         
 Deferred income and social contribution taxes    113.370    70.004         
 Other taxes    266.589    213.452         
         
    692.998    501.243         
         
    9.641.247    7.781.536    6.273.161    5.125.217 
         

97

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This excerpt taken from the PBR 6-K filed Mar 30, 2009.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    As of December 31, 
   
    2008    2007 
     
Local:         
     Domestic value-added tax (ICMS) (1)   1,924    2,173 
     PASEP/COFINS (2)   2,622    2,772 
     Income tax and social contribution    1,176    527 
     Foreign value-added tax (IVA)   113    243 
     Other recoverable taxes    541    250 
     
    6,376    5,965 
     
Less: Long-term recoverable taxes    (3,095)   (2,477)
     
Current recoverable taxes    3,281    3,488 
     

(1) Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.

(2) Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable.

The income tax and social contribution recoverable will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

46

This excerpt taken from the PBR 6-K filed Nov 28, 2008.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    September 30,    December 31, 
    2008    2007 
     
 
 
   Domestic value-added tax (ICMS) (1)   2,324    2,173 
   Income tax and social contribution    524    527 
   PASEP/COFINS (2)   2,805    2,772 
   Foreign value-added tax (IVA)   145    243 
   Other recoverable taxes    339    250 
     
 
    6,137    5,965 
     
 
Less: Long-term recoverable taxes    (3,208)   (2,477)
     
 
Current recoverable taxes    2,929    3,488 
     

(1) Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.

(2) Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable.

The income tax and social contribution recoverable will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

24

Table of Contents

This excerpt taken from the PBR 6-K filed Nov 12, 2008.

17.1 Recoverable taxes

    R$ thousand 
   
Current assets    Consolidated    Parent company 
     
    09.30.2008    06.30.2008    09.30.2008    06.30.2008 
         
Local:                 
 ICMS    2.482.856    2.670.792    1.955.752    2.259.473 
 PASEP/COFINS    1.222.761    1.346.540    804.592    728.422 
 CIDE    47.295    43.158    47.295    42.926 
 Income tax    817.799    628.957    307.964    222.802 
 Social contribution    140.020    129.397    13.425    20.634 
 Deferred income and social contribution taxes    1.849.656    1.413.637    1.333.938    1.132.546 
 Other taxes    380.877    326.324    223.619    189.429 
         
    6.941.264    6.558.805    4.686.585    4.596.232 
         
Foreign:                 
 Value added tax - VAT    278.256    241.015         
 Deferred income and social contribution taxes    142.394    79.354         
 Other taxes    363.151    262.845         
         
    783.801    583.214         
         
    7.725.065    7.142.019    4.686.585    4.596.232 
         

This excerpt taken from the PBR 6-K filed Sep 4, 2008.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    June 30,    December 31, 
    2008    2007 
     
 
 
 Domestic value-added tax (ICMS) (1)   2,575    2,173 
 Income tax and social contribution    507    527 
 PASEP/COFINS (2)   3,166    2,772 
 Foreign value-added tax (IVA)   151    243 
 Other recoverable taxes    368    250 
     
 
    6,767    5,965 
     
 
Less: Long-term recoverable taxes    (3,281)   (2,477)
     
 
Current recoverable taxes    3,486    3,488 
     

(1) Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.

(2) Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable.

The income tax and social contribution recoverables will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

27

Table of Contents

This excerpt taken from the PBR 6-K filed Aug 13, 2008.

17.1Recoverable taxes

    R$ thousand
           
Current assets    Consolidated    Parent Company 
     
    06.30.2008    03.31.2008    06.30.2008    03.31.2008 
         
Local:                 
   ICMS    2.670.792    2.906.483    2.259.473    2.418.544 
   PASEP/COFINS    1.346.540    1.714.942    728.422    1.114.164 
   CIDE    43.158    94.451    42.926    54.566 
   Income tax    628.957    668.744    222.802    323.312 
   Social contribution    129.397    127.920    20.634    26.004 
   Deferred income tax and social contribution    1.413.637    1.244.710    1.132.546    925.842 
   Other taxes    326.324    271.049    189.429    184.718 
         
                 
    6.558.805    7.028.299    4.596.232    5.047.150 
         
Foreign:                 
   Value Added Tax - VAT    241.015    161.508         
   Deferred income tax and social contribution    79.354    92.396         
   Other taxes    262.845    320.279         
         
    583.214    574.183         
         
    7.142.019    7.602.482    4.596.232    5.047.150 
         

This excerpt taken from the PBR 6-K filed May 22, 2008.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    March 31,    December 31, 
    2008    2007 
     
 
Local:         
 Domestic value-added tax (ICMS) (1)   2,341    2,173 
 Income tax and social contribution    469    527 
 PASEP/COFINS (2)   2,982    2,772 
 Foreign value-added tax (IVA)   238    243 
 Other recoverable taxes    295    250 
     
 
    6,325    5,965 
     
 
Less: Long-term recoverable taxes    (2,477)   (2,477)
     
 
Current recoverable taxes    3,848    3,488 
     

(1)     
Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.
 
(2)     
Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable.

The income tax and social contribution recoverables will be offset against future income tax payables.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

27

Table of Contents

This excerpt taken from the PBR 6-K filed Mar 18, 2008.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    As of December 31, 
   
    2007    2006 
     
 
Local:         
     Domestic value-added tax (ICMS) (1)   2,173    1,980 
     Income tax and social contribution    527    518 
     PASEP/COFINS (2)   2,772    1,124 
     Foreign value-added tax (IVA)   243    108 
     Other recoverable taxes    250    155 
     
 
    5,965    3,885 
     
 
Less: Long-term recoverable taxes    (2,477)   (1,292)
     
 
Current recoverable taxes    3,488    2,593 
     

(1)
Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature. 
 
(2)
Composed of credits arising from non-cumulative collection of PASEP and COFINS, which can be compensated with other federal taxes payable. 

The income tax and social contribution recoverable will be offset against future income tax payable.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

37

Table of Contents


This excerpt taken from the PBR 6-K filed Mar 4, 2008.

18.1 Recoverable taxes

    Consolidated    Parent Company 
     
Current assets     2007     2006     2007     2006 
         
 
Local:                 
   ICMS    2.878.563    3.272.690    2.455.357    2.656.709 
   PASEP/COFINS    1.545.852    699.160    1.030.782    438.236 
   CIDE    239.259    48.245    32.385    39.722 
   Income tax    723.234    651.076    271.363    277.529 
   Social contribution    156.105    137.530    25.990    15.901 
   Deferred income tax and social contribution    1.418.172    1.108.787    1.122.215    770.460 
   Other taxes    319.108    246.160    187.125    183.195 
         
 
    7.280.293    6.163.648    5.125.217    4.381.752 
         
 
Foreign:                 
   Value Added Tax - VAT    217.786    230.453         
   Deferred income tax and social contribution    70.004    81.608         
   Other taxes    213.453    350.048         
         
 
    501.243    662.109         
         
 
    7.781.536    6.825.757    5.125.217    4.381.752 
         

This excerpt taken from the PBR 6-K filed Nov 29, 2007.

8. Recoverable Taxes

Recoverable taxes consisted of the following:

    September 30,    December 31, 
    2007    2006 
     
 
Local:         
 Domestic value-added tax (ICMS) (1)   2,282    1,980 
 Income tax and social contribution    472    518 
 PASEP/COFINS (2)   2,035    1,124 
 Foreign value-added tax (IVA)   99    108 
 Other recoverable taxes    478    155 
     
 
    5,366    3,885 
     
 
Less: Long-term recoverable taxes    (2,087)   (1,292)
     
 
Current recoverable taxes    3,279    2,593 
     
     

(1) Domestic value-added sales tax is composed of credits generated by commercial operations and by the acquisition of property, plant and equipment and can be offset with taxes of the same nature.

(2) PASEP and COFINS are social security contributions payable in respect of sales of products and services and financial revenues.

These contributions and the domestic value-added tax (ICMS) are not cumulative and amounts paid related to these taxes in the acquisition of products and/or services can be offset when these products and services are sold, which means a tax credit is generated when the purchase is made and such credit is then offset upon sale to final customer.

The income tax and social contribution recoverable will be offset against future taxable income.

Petrobras plans to fully recover these taxes, and as such, no allowance has been provided.

25

Table of Contents

This excerpt taken from the PBR 6-K filed Nov 21, 2007.

16.1. Recoverable taxes

    R$ thousand 
   
    Consolidated    Parent Company 
     
Current assets    09.30.2007    06.30.2007    09.30.2007    06.30.2007 
         
Local:                 
   ICMS – Domestic Value added tax    3.321.784    3.298.855    2.911.156    2.863.543 
   PASEP/COFINS    1.137.811    903.042    663.628    602.638 
   CIDE – Contribution on Intervention in the                 
     Economic Domain    48.123    49.966    48.118    49.961 
   Income tax    633.774    616.243    253.927    246.154 
   Social contribution    198.420    121.531    90.366    27.660 
   Deferred income tax and social contribution    1.214.069    1.859.003    983.633    1.643.847 
   Other taxes    390.788    373.567    183.261    183.585 
         
    6.944.769    7.222.207    5.134.089    5.617.388 
         
Foreign:                 
   Value Added Tax – VAT    202.841    230.991         
   Deferred income tax and social contribution    43.584    70.919         
   Other taxes    225.291    206.249         
         
    471.716    508.159         
         
    7.416.485    7.730.366    5.134.089    5.617.388 
         

This excerpt taken from the PBR 6-K filed Aug 21, 2007.

16.1. Recoverable taxes

    R$ thousand 
   
    Consolidated    Parent Company 
     
Current assets    06.30.2007    03.31.2007    06.30.2007    03.31.2007 
         
Local:                 
   ICMS – Domestic Value added tax    3.298.855    3.543.722    2.863.543    3.106.072 
   Pasep/Cofins    903.042    985.480    602.638    691.220 
   Cide – Contribution on Intervention in the    49.966    40.118    49.961    40.118 
     Economic Domain                 
 
   Income tax    616.243    454.295    246.154    165.153 
   Social contribution    121.531    111.388    27.660    11.244 
   Deferred income tax and social contribution    1.859.003    1.000.248    1.643.847    745.056 
   Other taxes    373.567    329.713    183.585    183.438 
         
    7.222.207    6.464.964    5.617.388    4.942.301 
         
Foreign:                 
   Value Added Tax – VAT    230.991    243.592         
   Deferred income tax and social contribution    70.919    60.906         
   Other taxes    206.249    390.812         
         
    508.159    695.310         
         
    7.730.366    7.160.274    5.617.388    4.942.301 
         

EXCERPTS ON THIS PAGE:

6-K
Nov 19, 2009
6-K
Sep 10, 2009
6-K
Aug 18, 2009
6-K
Jun 1, 2009
6-K
Mar 31, 2009
6-K
Mar 30, 2009
6-K
Nov 28, 2008
6-K
Nov 12, 2008
6-K
Sep 4, 2008
6-K
Aug 13, 2008
6-K
May 22, 2008
6-K
Mar 18, 2008
6-K
Mar 4, 2008
6-K
Nov 29, 2007
6-K
Nov 21, 2007
6-K
Aug 21, 2007

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