Brazilian Companies Pushing Lula for Better Deals on Back Taxes [Financial Post (Toronto, Ontario, Canada)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — President Luiz Inacio Lula da Silva's plan to balance the budget by reaching settlements in corporate tax disputes is facing hurdles as some large Brazilian companies hold out for better deals. Ten major players from different sectors, including banking and infrastructure, have been discussing potential resolutions to unsettled court disputes with the Finance Ministry, according to Executive Secretary Dario Durigan. Companies peg the total amount under negotiation at 700 billion reais ($125 billion), which could send some 130 billion reais to public coffers after settlements are reached. The government, however, needs to offer
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