TBA GroupBühler GmbHPort of StocktonVan AalstGeneva DryCimbria
  • Bühler GmbH
  • Cimbria
  • Telestack
  • Port of Stockton
  • Vigan
  • Sailors Society

$8.4bn tax contribution by Rio Tinto

$8.4bn tax contribution by Rio Tinto

(Posted on 11/04/21)

Rio Tinto has released its 2020 Taxes paid. The company’s economic contribution report, which shows that they made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties.

Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties.

Most of Rio Tinto’s taxes and royalties were paid in Australia ($6.8 billion, or AUD9.8 billion, including $4.6 billion of corporate tax), home to the largest part of Rio Tinto’s business. The company also made significant payments in Canada ($651 million or CAD872 million), Mongolia ($277 million), Chile ($246 million), UK ($132 million), United States ($111 million), and South Africa ($61 million).

Rio Tinto’s $47 billion direct economic contribution in 2020 took the company’s total direct economic contribution since 2016 to $220 billion.

Rio Tinto interim chief financial officer Peter Cunningham said “As the COVID-19 virus threatened lives and livelihoods around the world, our entire company mobilised to safeguard our employees, contractors and local communities, and to keep our operations running safely and smoothly.

“The strength and resilience of our business, along with the commitment and flexibility of our employees, customers, communities and host governments, enabled us to protect thousands of jobs across our supply chain and continue to pay taxes and royalties to governments when many other companies were forced to cut back.”

More than a decade ago, Rio Tinto was 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. In the past 10 years, Rio Tinto has paid $71.5 billion in taxes and royalties to governments around the world, including $54.4 billion paid in Australia.

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. 

Latest News

American Feed Industry commends vital supply chain legislation

(Posted on 23/04/24)

The American Feed Industry Association (AFIA) has commended Representatives Ashley Hinson, R-Iowa-02... Read more


NGFA says NASS reports are critical to agribusiness operations

(Posted on 23/04/24)

In a letter to U.S. Agriculture Secretary Tom Vilsack, the National Grain and Feed Association (NGFA... Read more


Bauxite and aluminium businesses deliver stable Rio Tinto results

(Posted on 18/04/24)

Bauxite production of 13.4 million tonnes was 11% higher than the first quarter of 2023 for Rio Tinto... Read more


Rio Tinto spends more than A$16.1 billion with Australian suppliers

(Posted on 15/04/24)

Rio Tinto increased its spend with suppliers and local businesses in Australia to more than A$16.1 billion... Read more


Cargill increases its renewable energy capacity by more than 40%

(Posted on 15/04/24)

Cargill has reported increasing its contracted renewable energy capacity by 42% after signing five new... Read more


Agreement to set up KEZAD steel recycling and production facility

(Posted on 29/03/24)

The UAE’s largest operator of integrated and purpose-built economic zones, Khalifa Economic Zones... Read more


Senate legislation includes phosphate and potash as critical minerals

(Posted on 25/03/24)

The Fertilizer Institute (TFI) has praised the U.S. Senate for introducing bipartisan legislation to... Read more


Agribusiness expert’s legacy and optimism for GrainCorp’s future

(Posted on 18/03/24)

Farmer, Company Director and long-standing member of the GrainCorp Board of Directors, Dan Mangelsdorf... Read more


Research offers Rotterdam guidelines for raw material transition

(Posted on 15/03/24)

Different product processes, non-fossil raw materials and rare materials are crucial for a CO2-neutral... Read more


Bunge Chevron Ag Renewables to build Louisiana processing plant

(Posted on 10/03/24)

Bunge and Chevron have announced approval of a final investment decision for their joint venture Bunge... Read more


Sailors SocietyTMS Awards 2023Port of South LouisianaTelestackVigan
  • Geneva Dry
  • TMS Awards 2023

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping