Brazil’s Vale Agrees To Pay Around $9.58 Bln In Tax Settlement

Posted on November 28, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Brazilian mining giant Vale S.A. said Wednesday that it has agreed to participate in the federal tax settlement, and pay the Brazilian government around 22.325 billion Brazilian reais or about $9.58 billion in total. The company noted that the tax payment will have an estimated impact of 20.725 billion reais or about $8.89 billion on net income in 2013.