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Rio's 2019 taxes reached $7.6bn

8th April 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Diversified miner Rio Tinto paid some $7.6-billion in taxes and royalties globally in 2019, including $4.8-billion of corporate tax.

The miner on Wednesday revealed that the majority of its taxes were paid in Australia, accounting for some $6.2-billion of the taxes paid, while a further $311-million was paid in Chile, $291-million in Canada, $178-million in the US, $117-million in the UK and a further $80-million in South Africa.

The company’s latest tax report noted that Rio made a $45.1-billion direct economic contribution in 2019 to the countries and communities where it operates, taking the company’s direct economic contribution since 2015 to $210-billion.

“Our business, including the taxes and royalties we pay, plays a critical role in the overall economic health and development of the regions where we operate,” said CFO Jakob Stausholm.

“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.”

Edited by Creamer Media Reporter

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