Vale informs that it has published today, its first annual Tax Transparency Report as part of our new pact with society and journey to better engage our stakeholders. 

In 2019, Vale paid US$ 4.5 billion in taxes and royalties globally, of which more than 90% (US$ 4.2 billion) were paid in Brazil, where most of our operations are carried out. The amount of US$ 4.5 billion in taxes and royalties paid in 2019 corresponds to more than 10% of Vale’s total economic contribution last year. In addition to tax payments, this contribution includes operational costs, salaries and employee benefits, among others. 


The report sets out the principles behind Vale’s approach to tax and investment. It includes information about corporate income taxes, tax on mining, payroll taxes, tax on products and services and other taxes, providing data on the taxes paid in Brazil, Canada, Indonesia, Mozambique and New Caledonia. 


With this publication, Vale meets with one year in advance its commitment to deliver a detailed tax transparency report as part of its ESG agenda. According to an action plan to fulfil Vale’s ESG reporting commitment, the report was originally scheduled to be published in 2021.


The disclosure of the Tax Transparency report demonstrates Vale’s commitment to transparency as it follows the principles recommended by international entities such as the International Council on Mining and Metals (ICMM) and the Extractive Industries Transparency Initiative (EITI). 
 

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