Vale Poised for Tax Boon as Brazil Says Miners May Avoid SPT
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Brazilian mining companies including world No. 1 iron-ore producer Vale SA probably will avoid a new type of windfall tax as the government focuses on lifting royalty fees, the mines and energy minister said.
President Dilma Rousseff’s government is completing new mining industry rules and expects to publish them in as early as in 15 days, Edison Lobao said during an April 12 interview in Brasilia. While a decision hasn’t yet been made on a new so-called special participation tax, a levy on sales or profit generated by the country’s most productive operations, the government is leaning against such a measure, he said.