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This excerpt taken from the PBR 6-K filed Nov 12, 2008. 20.2 Tax incentives - SUDENE This includes an incentive for investments in the Northeast, within the region covered by the Northeast Development Agency (SUDENE), which grants a 75% decrease in income taxes payable, calculated on the operating profits from incentive activities in the amount of R$ 514.857 thousand as of September 30, 2008, and which may only be used to offset losses or for a capital increase, as established in article 545 of the Income Tax Regulations. From 2008 onwards, tax incentives are being recorded as deferred income, as described in Note 19. This excerpt taken from the PBR 6-K filed Aug 13, 2008. 20.2 Tax incentives - Sudene Includes an investments aid incentive in the Northeast, within the region covered by the Northeast Development Agency (SUDENE), granting a 75% reduction in income tax payable, calculated on the profits of the exploration of the incentive activities, in the amount of R$ 514.857 thousand as at June 30, 2008, and which may only be utilized to offset losses or for a capital increase, as provided for in Article 545 of the Income Tax Regulations. From 2008 onwards, tax incentives are being recorded under deferred income, as mentioned in Note 19. This excerpt taken from the PBR 6-K filed Mar 4, 2008. b) Tax incentives - SUDENE Includes an investments subsidy incentive in the Northeast, within the region covered by the Northeast Development Agency (SUDENE), granting a 75% reduction in income tax payable, calculated on the profits of the exploration of the incentive activities, in the amount of R$ 1.170.923 as at December 31, 2007, and which may only be utilized to offset losses or for a capital increase, as provided for in Article 545 of the Income Tax Regulations. On May 10, 2007, the Brazilian Federal Revenue Office recognized Petrobras’ right to deduct this incentive from income tax payable, covering the tax years of 2006 until 2015. | EXCERPTS ON THIS PAGE:
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