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DIVERSIFIED MINERS
 
Rio pays nearly $12bn in taxes
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15th March 2013
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PERTH (miningweekly.com) – Mining giant Rio Tinto on Friday reported that it had paid some $11.6-billion in global taxes during 2012.

In its voluntary tax report, the miner noted most of the taxes were paid in Australia, with more than $8.9-billion outlaid to all levels of Australian government last year.

Its Canadian operations added a further $1-billion in taxes, with the US accounting for $376-million, Chile for $331-million, Mongolia for $280-million and the UK for $150-million.

A further $140-million was paid in France and South Africa accounted for $130-million in taxes.

Corporate income tax was the largest component of Rio Tinto’s tax payments around the world, followed by government royalties and payroll tax.

“Rio Tinto makes significant contributions to public finances in all the countries where we are doing business,” said CFO Guy Elliott.

“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.”

Edited by: Creamer Media Reporter

 

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Picture by: Bloomberg