Brazil Energy Chief Piles Pressure on Petrobras to Pay Tax Debts [Financial Post (Toronto, Ontario, Canada)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Financial Post
it has a duty to the country and not only to its private investors, according to the nation's energy minister. Author of the article: (Bloomberg) — Brazil's state-controlled oil company Petrobras must settle a dispute involving billions of reais in back taxes with the federal government to show it has a duty to the country and not only to its private investors, according to the nation's energy minister. Alexandre Silveira's call for the oil giant to set an example to other companies with outstanding tax debts comes as President Luiz Inacio da Silva's administration seeks to cut deals with them in an effort to raise revenues and balance the nation's budget. “Petrobras has an obligation to sit at the table with Brazil's bureau of federal revenue and the finance ministry and consider all the possibilities to honor its tax commitments,” minister Alexandre Silveira told Bloomberg News in an interview in New York on Saturday, highlighting the company's “staggering profitability” in
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