TelestackVan AalstTOC Europe 2023Bühler GmbHTBA GroupThe Wolfson Centre for Bulk Solids Handling Technology
  • Cimbria
  • TOC Europe 2023
  • Vigan
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Telestack
  • Bühler GmbH

Rio Tinto discloses tax details

(Posted on 09/04/20)

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.

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 ($291 million), 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.

Latest News

Bunge announces changes to board of directors

(Posted on 31/03/23)

Bunge Limited has announced that Kathleen Hyle, non-executive chairperson of the Board of Directors,... Read more


Rio Tinto and First Quantum Peruvian copper project partnership

(Posted on 31/03/23)

Rio Tinto and First Quantum Minerals have entered into an agreement to form a joint venture that will... Read more


Call for EU co-legislators to secure clean ammonia production

(Posted on 28/03/23)

Fertilizers Europe has called on EU co-legislators to ensure that clean fertilizer and ammonia production... Read more


BHP and Hatch design study for electric smelting furnace pilot

(Posted on 24/03/23)

BHP and global engineering, project management and professional services firm, Hatch, have signed an... Read more


Rio Tinto spends over A$15.3 bn with Australian suppliers

(Posted on 20/03/23)

Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more


Trafigura closes the refinancing and extension of credit facilities

(Posted on 20/03/23)

Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more


Nexyst 360 selects Nexxiot to digitalize 5000 grain containers

(Posted on 07/03/23)

Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more


Cargill strengthens executive team

(Posted on 28/02/23)

Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more


SACE’s Push Strategy to support supplies of commodities to Italy

(Posted on 24/02/23)

Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more


Job losses loom as British steel proposes coke ovens closure

(Posted on 22/02/23)

British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more


CimbriaIMPA EventsViganPort of StocktonPort of South LouisianaSailors Society
  • Sailors Society

Subscribe to our newsletter

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