Rio Tinto discloses Taxes Paid Report 2017

ZGM DAILY

2018-04-12 12:30 GMT+8

Rio Tinto has published its latest Taxes Paid Report detailing the USD 5.1 billion paid in taxes and royalties in 2017, which is 30 percent higher that the previous year.

The majority, nearly 70 percent, of its taxes were paid in Australia USD 3.8 billion, Canada USD 387 million, Chile USD 318 million, Mongolia USD 228 million, South Africa USD 93 million, the United Kingdom USD 81 million and the United States USD 78 million.

Rio Tinto chief financial officer Chris Lynch said “Our voluntary Taxes paid report highlights how Rio Tinto continues to be a significant contributor in the countries where we operate through the taxes, royalties and wages we pay. We believe it is important that our investors, communities and other stakeholders understand the significant impact we make through the tax we pay and our broader economic contribution.”

Rio Tinto has been a pioneer in transparent reporting of corporate taxes paid, since its first Taxes Paid report was voluntarily published in 2010. Corporate income tax comprised approximately half of Rio Tinto’s tax payments globally, followed by government royalties, other taxes and employer payroll taxes.

As of Tuesday, a day after the release of taxes paid report, Rio’s stock price grew 0.56 percent, to AUD 73.88 at the Australian Securities Exchange.

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