Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of income tax reconciliation |
| Schedule of income tax reconciliation |
|
|
|
|
| Year
ended December 31, |
Notes |
2025 |
2024 |
2023 |
| Income
before income taxes |
|
4,653 |
6,696 |
11,151 |
| Income
taxes at statutory rate (34%) |
|
(1,582) |
(2,277) |
(3,791) |
| Adjustments
that affect the taxes basis: |
|
|
|
|
| (Write-off)
recognition of deferred tax assets on tax losses and other natures (i) |
|
(2,832) |
490 |
294 |
| Tax
incentives |
|
1,070 |
666 |
1,071 |
| Interest
on capital |
|
1,022 |
762 |
789 |
| Effects
on tax computation of foreign operations |
|
(283) |
(406) |
(102) |
| Deduction
of CSLL in Brazil |
5(d) |
128 |
– |
– |
| Provision
related to Samarco |
26(a) |
(125) |
(361) |
(404) |
| Tax
effects arising from divestments and acquisitions, net |
|
(122) |
651 |
– |
| Equity
results |
|
123 |
103 |
88 |
| Reversal
of deferred income tax related to Renova Foundation |
|
– |
– |
(1,078) |
| Other
|
|
(69) |
(349) |
87 |
| Income
taxes |
|
(2,670) |
(721) |
(3,046) |
| Current
tax |
|
76 |
(2,008) |
(1,375) |
| Deferred
tax |
|
(2,746) |
1,287 |
(1,671) |
| Income
taxes |
|
(2,670) |
(721) |
(3,046) |
(i) For the year ended December 31, 2025, the balance substantially relates
to the write-off of deferred tax assets on tax loss carryforwards resulting from the update of the estimated future taxable profits in
subsidiaries in Canada and Switzerland, mainly due to changes in long-term assumptions. Consequently, there is a tax loss carryforward
balance amounting to U$$6,352 (2024: US$4,002), related to Vale S.A.’s subsidiaries, for which no deferred tax asset has been recognized
as of December 31, 2025.
|
| Schedule of deferred income tax assets and liabilities |
| Schedule of deferred income tax assets and liabilities |
|
|
|
|
| |
Deferred tax assets |
Deferred tax liabilities |
| December 31, |
2025 |
2024 |
2025 |
2024 |
| Taxes losses carryforward |
3,617 |
5,516 |
– |
– |
| Temporary differences: |
|
|
|
|
| Asset retirement obligations and other liabilities |
2,862 |
2,829 |
(633) |
(509) |
| Fair value of financial instruments |
645 |
932 |
– |
– |
| Employee post-retirement obligation |
396 |
368 |
– |
– |
| Provision for litigation |
333 |
327 |
– |
– |
| Fair value of property, plant and equipment and intangibles in business combination |
– |
– |
(930) |
(1,695) |
| Goodwill amortization |
– |
– |
(527) |
(462) |
| Other |
448 |
494 |
– |
– |
| |
8,301 |
10,466 |
(2,090) |
(2,666) |
| |
|
|
|
|
| Financial position |
|
|
|
|
| Assets |
6,318 |
8,244 |
– |
– |
| Liabilities |
– |
– |
(107) |
(445) |
|
| Schedule of changes in deferred tax assets and liability |
| Schedule of changes in deferred tax assets and liability |
|
|
|
| |
Assets |
Liabilities |
Deferred taxes, net |
| Balance as of December 31, 2023 |
9,565 |
870 |
8,695 |
| Taxes losses carryforward |
937 |
– |
937 |
| Provision for asset retirement obligations and other liabilities |
(361) |
18 |
(379) |
| Fair value of financial instruments |
393 |
– |
393 |
| Fair value of intangibles and property, plant and equipment in business combination |
– |
(397) |
397 |
| Others |
(61) |
– |
(61) |
| Effect in income statement |
908 |
(379) |
1,287 |
| Employee post-retirement obligation |
(20) |
26 |
(46) |
| Fair value of financial instruments |
(1) |
– |
(1) |
| Other comprehensive income |
(21) |
26 |
(47) |
| Transfer between assets and liabilities |
(250) |
(250) |
– |
| Translation adjustment |
(1,953) |
(130) |
(1,823) |
| Incorporations, acquisitions and divestments |
(5) |
308 |
(313) |
| Balance as of December 31, 2024 |
8,244 |
445 |
7,799 |
| Taxes losses carryforward |
(2,484) |
– |
(2,484) |
| Provision for asset retirement obligations and other liabilities |
(281) |
77 |
(358) |
| Fair value of financial instruments |
(387) |
– |
(387) |
| Fair value of intangibles and property, plant and equipment in business combination |
– |
(608) |
608 |
| Others |
(116) |
10 |
(126) |
| Effect in income statement |
(3,268) |
(521) |
(2,747) |
| Employee post-retirement obligation |
7 |
9 |
(2) |
| Other comprehensive income |
7 |
9 |
(2) |
| Transfer between assets and liabilities |
430 |
430 |
– |
| Translation adjustment |
914 |
60 |
854 |
| Incorporations, acquisitions and divestments |
(9) |
(316) |
307 |
| Balance as of December 31, 2025 |
6,318 |
107 |
6,211 |
|
| Schedule of uncertain tax positions |
| Schedule of uncertain tax positions |
|
|
|
|
|
|
| |
December 31, 2025 |
December 31, 2024 |
| |
Assessed (i) |
Potential (ii) |
Total |
Assessed (i) |
Potential (ii) |
Total |
| UTPs not recorded on statement of financial position |
|
|
|
|
|
|
| Transfer pricing over the exportation of ores to a foreign subsidiary |
4,819 |
1,808 |
6,627 |
3,893 |
1,608 |
5,501 |
| Expenses of interest on capital |
1,311 |
– |
1,311 |
1,402 |
– |
1,402 |
| Proceeding related to income tax paid abroad |
517 |
– |
517 |
427 |
– |
427 |
| Goodwill amortization |
1,008 |
77 |
1,085 |
807 |
62 |
869 |
| Payments to Renova Foundation (iii) |
733 |
277 |
1,010 |
327 |
351 |
678 |
| Other |
470 |
– |
470 |
419 |
– |
419 |
| Total
not recorded on statement of financial position |
8,858 |
2,162 |
11,020 |
7,275 |
2,021 |
9,296 |
| |
|
|
|
|
|
|
| UTPs recorded on statement of financial position |
|
|
|
|
|
|
| Deduction of CSLL in Brazil (iv) |
– |
– |
– |
154 |
– |
154 |
| Total
recorded on statement of financial position |
– |
– |
– |
154 |
– |
154 |
(i) Includes the tax effects arising from
the reduction of the tax losses and negative basis of the CSLL, with fines and interest.
(ii) Includes the principal, without fines
and interest.
(iii) In October 2025, the Company received
a tax assessment notice related to the 2020 fiscal year, in the amount of US$334.
(iv) Based on an administrative decision
issued by the Brazilian Administrative Council of Tax Appeals (CARF) in July 2025, the amount was partially settled (US$56), while the
remaining balance (US$128) was reversed from liabilities, impacting the “income taxes” line in the consolidated income statement
for the year ended December 31, 2025.
|
| Schedule of recoverable and payable taxes |
| Schedule of recoverable and payable taxes |
|
|
|
|
|
|
|
|
| |
Current assets |
Non-current assets |
Current liabilities |
Non-current liabilities |
| December 31, |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
2025 |
2024 |
| Value-added tax ("ICMS") |
311 |
260 |
19 |
3 |
52 |
34 |
– |
– |
| Brazilian federal contributions ("PIS" and "COFINS") |
208 |
266 |
1,293 |
975 |
2 |
12 |
– |
– |
| Income taxes |
973 |
564 |
462 |
319 |
351 |
317 |
– |
– |
| Financial compensation for the exploration of mineral resources ("CFEM") |
– |
– |
– |
– |
77 |
63 |
– |
– |
| Other |
13 |
10 |
2 |
– |
205 |
148 |
– |
– |
| Total taxes payable and recoverable |
1,505 |
1,100 |
1,776 |
1,297 |
687 |
574 |
– |
– |
| |
|
|
|
|
|
|
|
|
| REFIS liabilities (i) |
– |
– |
– |
– |
423 |
353 |
784 |
1,007 |
| Total REFIS liabilities |
– |
– |
– |
– |
423 |
353 |
784 |
1,007 |
(i) The balance mainly relates to the settlement
programs of claims regarding the collection of income tax and social contribution on equity gains of foreign subsidiaries and associates
from 2003 to 2012. This amount bears SELIC interest rate (Special System for Settlement and Custody) and will be paid in monthly installments
until October 2028 and the impact of the SELIC over the liability is recorded under the Company’s financial results (note 18). SELIC
rate at the end of the fiscal year ended December 31, 2025, is 15.00% (2024: 12.25%).
|