SAO PAULO, March 24 A Brazilian tax court ruled
that state-controlled oil company Petróleo Brasileiro SA
did not break the law by deducting expenses related
to the development of oil and gas field from its 2009 income
According to a Friday securities filing, the Finance
Ministry could still appeal against the ruling by the tax
auditing court, known as CARF.
The Finance Ministry is seeking 5.1 billion reais ($1.6
billion) from Petrobras in compensation for the deducation,
newspaper Valor Econômico reported on Thursday.
($1 = 3.1336 reais)
(Reporting by Gabriela Mello; Writing by Bruno Federowski;
Editing by Daniel Flynn)