INSUBCONTINENT EXCLUSIVE:
Brazilian oil giant Petrobras has agreed to settle $3.5 billion (R$19.8 billion) in outstanding taxes with the federal government.This
the board of directors of the state-controlled drilling company endorsed the decision.This marks a significant action under the leadership
of the new CEO, Magda Chambriard
The details of the payment were publicly disclosed.In addition, this contribution will bolster efforts by Finance Minister Fernando Haddad
Back Taxes to Support Brazilian Budget
(Photo Internet reproduction)Addressing outstanding fiscal debts is a pivotal part of his revenue-increasing strategy.Recently, Haddad has
faced increased scrutiny as market concerns grew over his ability to meet fiscal targets.However, the government is now encountering
heightened calls for public spending cuts to keep the deficit in check.The pressure on Petrobras to clear its pending tax obligations
The settlement relieves the company of legal burdens and is expected to reduce potential penalties and interest.The approved amount pertains
to taxes related to the leasing of offshore oil ships or platforms.Petrobras will utilize approximately 8.000 billion reais from
pre-existing judicial deposits and tax credits.In addition, the company will pay 3.750 billion reais on June 30, with the rest split into
of the remaining extraordinary dividend for 2023 throughout the year.In short, as the controlling shareholder, the government would receive
the majority of these payments.
