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Brazil's Vale to pay $9.61 billion back tax bill on overseas units

A general view of Brazilian mining giant Vale's aluminium refinery in Barcarena, in the northen Brazilian state of Para, August 14, 2008. RE
A general view of Brazilian mining giant Vale's aluminium refinery in Barcarena, in the northen Brazilian state of Para, August 14, 2008. RE

RIO DE JANEIRO (Reuters) - Brazilian mining company Vale said on Wednesday that it agreed to pay 22.325 billion reais ($9.61 billion) in back taxes to the Brazilian government on profit from overseas operations, after agreeing to a payment plan with tax authorities.

The payments will be made over 15 years with 5.965 billion reais, or 27 percent, due this month. The remaining 16.36 billion reais will be made in 179 monthly payments, Vale said in a securities filing.

($1 = 2.3237 Brazilian reais)

(Reporting by Jeb Blount; Editing by Gary Hill)

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