Brazil’s Supreme Court rules in Vale’s favor over unpaid tax dispute

Friday, 11 May 2012 02:15:59 (GMT+3)   |  
       

Vale announced Thursday that it received a favorable ruling from Brazil's Supreme Court (STF) that suspends the effects of a prior ruling that relates to the taxation on profits from Vale's non-Brazilian subsidiaries and affiliates.

As a result, Vale does not have to pay collateral while it disputes the US$15.7 billion of taxes on profits for its overseas operations. Thursday's announcement is not expected affect the final ruling on the taxes.


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