Rio Tinto has published its latest taxes paid report detailing the US$6.6 billion of taxes and royalties paid globally in 2018, up from US$5.1 billion in 2017. The report also outlines Rio Tinto’s direct economic contribution of US$42.8 billion during 2018.
Australia accounted for the largest portion of the taxes and royalties paid (US$4.8 billion), with significant amounts also paid in Canada (US$386 million), Chile (US$332 million), the US (US$331 million), Mongolia (US$308 million), Europe (US$146 million) and Africa (US$132 million).
Rio Tinto Chief Financial Officer, Jakob Stausholm, said: "The taxes we pay to national, regional and local governments are an important element of the contribution we make to the societies in which we operate. Our payments enable various governments to provide essential services to communities and to invest for the future.
"Our overall contribution is far broader than the taxes and royalties we pay, including direct investment in communities, job creation and significant investments with suppliers. In 2018 alone, Rio Tinto's direct economic contribution globally was US$42.8 billion, including payments to 37 000 suppliers in over 120 locations."
Since Rio Tinto voluntarily published its first Taxes paid report in 2010, the company has paid US$63.0 billion of taxes and royalties globally of which US$45.8 billion was paid in Australia.
Read the article online at: https://www.globalminingreview.com/finance-business/10042019/rio-tinto-publishes-its-latest-taxes-paid-report/