Trouble: Brazil tax chief steps down for Petrobras probe
Brazil tax chief steps down
The head of Brazil's national tax authority, under pressure over an investigation into oil giant Petrobras, will step down today, the Finance Ministry said in a statement.
Media reported over the weekend that Finance Minister Guido Mantega had asked Lina Maria Vieira to leave after the tax authority launched a probe into alleged accounting irregularities by Petrobras and fined the state-owned company without Mantega's approval.
The Finance Ministry declined to comment on the media reports and the reason for her exit.
Vieira will be replaced by Otacilio Cartaxo, currently the deputy secretary of the national tax authority, the Finance Ministry said in the statement.
Brazil's Senate launched an investigation into alleged tax and procurement fraud at the oil company Petrobras in May, a Reuters report said.
Markets have so far shrugged off the probe that will investigate charges that Petrobras overpaid for services, used accounting "tricks" to lower tax payments and showed political favoritism in sponsorship funding.