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The largest taxpayer in Brazil, Petrobras – as emphasized by Roberto Castello Branco, president of the company, released last night (15) its 2019 fiscal report. Petrobras: 357 employees from hibernated fields are transferred to the refinery
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The state-owned company paid a total of BRL 2019 billion in taxes in 246, a growth of 34,91% in the payment of taxes over 2018, when it paid BRL 182,4 billion.
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The fiscal report includes the payment of all types of taxes and fees, including royalties, to the three spheres of executive power: Union, States and municipalities.
The Petrobras report showed that the state-owned company is the largest corporate taxpayer that finances the Brazilian federal state machine.
Check the statement from Petrobras
“Transparency and trust are fundamental values for society, and should be guidelines for the performance and communication of all companies. With the 2019 Fiscal Report, Petrobras reaffirms its commitment to transparency, by disclosing the details of reports related to taxes and government participation paid in Brazil.” said the state.
Petrobras is committed to compliance and strictly complies with applicable tax laws in all locations where it operates. In addition, it contributes significantly to the collection of taxes and government participation in all spheres.
Payments made by Petrobras, as shown in this report, cover two types of taxes: (i) own taxes, that is, those calculated and collected by the Company itself or owed by the Company, but withheld by third parties; (ii) taxes assessed by the Company, but due due to sales occurring in subsequent operations carried out by third parties, a situation in which Petrobras is attributed the status of tax substitute, in addition to third-party taxes withheld in contracting suppliers.
Tax substitution is a collection technique widely used by federal, state and municipal entities, which use it to ensure the collection of taxes in the operations of the following chains, and Petrobras, as a relevant player in the market, plays this role through legal designation.
In this report we detail information contained in our Form 20-F Annual Report, bringing additional clarification regarding the R$ 246 billion in taxes and government contributions contributed by Petrobras SA in 2019. However, it is worth noting that this information is based on a cash basis, and not competence.
“It is with great satisfaction that we publish our tax report for the first time, showing our important contribution to Brazilian society, in the form of payment of taxes, government participation and auctions of new areas for exploration and production of oil and natural gas”. Andrea Marques de Almeida, Chief Financial and Investor Relations Officer
“Petrobras is the biggest taxpayer in the country, by far. If Petrobras is managed in a responsible manner, it contributes to society, because this amount will finance education, investment in basic sanitation, public safety, health, all the ends that the State must provide”. Roberto Castello Branco, president of Petrobras
