Rio Tinto pays $11.6bn in taxes during 2012


Rio Tinto Brockman 4 Iron Ore Mine, Pilbara, Australia

Global mining company Rio Tinto made tax payments of $11.6bn across the countries in which it operates for 2012.

The company stated in its Taxes Paid report that it paid the majority of taxes ($8.9bn) in Australia to all levels of governments.

Rio Tinto Australia managing director David Peever said the report highlights the significant financial contribution the company is making at a national and state level across the country.

The company also made tax payments in Canada ($1bn), the US ($376m), Chile ($331m), Mongolia ($280m), the UK ($150m), France ($140m) and South Africa ($130m) during the year.

Corporate income tax formed the major part of Rio Tinto's tax payments across the world, followed by government royalties and payroll tax.

Rio Tinto chief financial officer Guy Elliott said the company makes significant contributions to public finances in all the countries where it is doing business.

"We believe it is important to disclose this tax information because this level of transparency helps us to retain our licence to operate, promotes government accountability and plays a key role in combating corruption.

"The report demonstrates that effective disclosures can be made by businesses on a voluntary basis and Rio Tinto is committed to maintaining and improving our reporting and transparency of taxes paid around the world," added Elliott.

Rio Tinto has previously reported that it did not contribute any payments to the Minerals Resources Rent Tax because it is able to credit state royalties against MRRT liabilities.


Image: The processing plant at Rio Tinto's Brockman 4 site in Western Australia.

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