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December 19, 2012
12:17 EDTVALEVale resolves tax dispute with Swiss federal authorities.
In a regulatory filing from earlier today, Vale informs that its wholly-owned subsidiary Vale International (ValeI), based in St. Prex, Canton of Vaud, Switzerland, has resolved its tax dispute with the Swiss federal authorities. The tax dispute was related to the federal tax holiday granted to ValeI in 2006 and the differences in its interpretation. Vale decided to clear the dispute and will pay the additional taxes claimed by the Swiss federal authorities for a total of CHF 212M. Vale has made a provision of US$ 37 million and the difference will impact our income statement in the fourth quarter of 2012. Payment will be made in installments, starting in January 2013, with the last one taking place in 2015.
News For VALE From The Last 14 Days
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December 21, 2014
19:22 EDTVALEFalling commodity prices, valuations may spur rebound in mining deals, FT says
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December 18, 2014
06:52 EDTVALEVale attempt to dismiss Rio Tinto suit rejected, WSJ says
Vale's (VALE) attempt to have a lawsuit filed against it by Rio Tinto (RIO) was rejected by U.S. Southern District of New York Judge Richard M. Berman, reports the Wall Street Journal. Judge Berman also rejected Vale's argument that the case should be tried in an English court, the Journal adds. Reference Link

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