Brazil Energy Chief Piles Pressure on Petrobras to Pay Tax Debts
- Oil company disputes more than $20 billion in back taxes
- Deal could generate billions of reais to help balance budget
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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.