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Petrobras agrees to pay Brazil $508 million to settle tax dispute

Published 07/16/2015, 09:15 PM
Updated 07/16/2015, 09:25 PM
© Reuters. The Petrobras logo is seen in front of the company's headquarters in Sao Paulo
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RIO DE JANEIRO (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA (SA:PETR4) said late Thursday that it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take the charge against earnings in second-quarter results.

The charge includes 1.2 billion reais in back taxes and 400 million reais in fines, the company, known as Petrobras, said in a statement.

© Reuters. The Petrobras logo is seen in front of the company's headquarters in Sao Paulo

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