Brazil tax appeal board rules against Petrobras in $3.4 bln case

Brazilian state-run oil firm Petrobras PETR4.SA said that the country’s tax appeal board Carf dismissed its appeal in a case related to unpaid taxes that could cost the company 18 billion reais ($3.43 billion).

In a securities filing, Petrobras said that it will adopt the appropriate legal measures to dispute the payment.