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Brazil court rules in favor of Vale SA-DJ


Friday, 25 Apr 2014 08:10am EDT 

Vale SA:Brazil's Superior Court ruled Vale units in Denmark, Belgium, and Luxembourg must pay taxes in those countries but not also in Brazil because those countries have agreements with the Brazilian government that bar double taxation-DJ.Vale and other Brazilian companies have been forced to pay taxes in other countries in which they operate and in Brazil.Brazil's federal government said it would appeal the decision to Supreme Court.Superior Court ruled Vale must pay taxes in Brazil over its activity in Bermuda because Brazil has no agreement on double taxation with the government there. 

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8.16
0.07 +0.87%
26 Dec 2014