Brazil's Vale CEO says tax rules for foreign units almost ready

BRASILIA, March 12 Wed Mar 12, 2014 12:44pm EDT

BRASILIA, March 12 (Reuters) - Vale SA, the world's largest iron ore producer, expects new rules reducing double taxation of foreign units of Brazilian companies to be ready in the coming weeks or months, the company's chief executive officer said on Wednesday.

The rules will be issued under a presidential decree being negotiated with Brazil's Congress, the CEO, Murilo Ferreira told reporters in Brasilia.