Rio Tinto discloses details of the $7.6 billion taxes paid in 2019
08 Aprile 2020 - 12:01AM
Business Wire
Rio Tinto paid $7.6 billion in taxes and royalties globally in
2019, including $4.8 billion of corporate tax, as detailed in its
latest Taxes paid report, published today.
The majority of its taxes were paid in Australia ($6.2 billion),
home to the largest part of Rio Tinto’s business. The company also
made significant payments in Chile ($311 million), Mongolia ($305
million), Canada ($291million), United States ($178 million), the
United Kingdom ($117 million) and South Africa ($80 million).
The report also outlines the $45.1 billion direct economic
contribution Rio Tinto made in 2019 to the countries and
communities where it operates, taking the company’s direct economic
contribution since 2015 to $210 billion.
Rio Tinto chief financial officer Jakob Stausholm said “Our
business, including the taxes and royalties we pay, play a critical
role in the overall economic health and development of the regions
where we operate.
“The funds we provide to governments and communities support the
basic infrastructure of society – bridges and roads, schools and
hospitals – as well as other local development priorities, like job
creation and skills training. Being transparent about where these
payments go helps our stakeholders better understand how these
funds may be used.”
A decade ago Rio Tinto became the first company in the resources
industry to voluntarily disclose its payments to governments in
detail, and has continued to report on taxes and royalties paid,
and economic contribution, in increasing detail ever since. Over
that period, Rio Tinto has paid over $70 billion in taxes and
royalties to governments around the world, including $52 billion
paid in Australia.
This year, consistent with Rio Tinto’s commitment to building on
transparency about its economic contribution, the company has for
the first time released comprehensive financial and tax related
disclosures for each country in which it operates. The company’s
2018 Country by Country report can be found on our website.
Rio Tinto is a founding member of the Extractive Industries
Transparency Initiative and a signatory to the B Team Tax
Principles, a not-for-profit initiative formed by a group of
cross-sector, cross-regional companies to help define what
leadership in responsible tax looks like.
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