The taxes we pay help governments provide essential services to communities and invest for the future. In 2018, the Rio Tinto Group paid $6.6 billion in taxes and royalties globally, including $4.8 billion paid in Australia.
Since our first Taxes Paid Report in 2010, we have paid $63 billion in taxes and royalties globally, of which over 70%, or $46 billion, was paid in Australia.
Working With Shared Purpose
We are proud of our contribution and the positive, lasting difference we make. We are proud of the products we deliver to our customers – metals and minerals that are essential to human progress.
This report builds on our long history of transparency in relation to our economic contribution, and provides comprehensive disclosures over the tax and other payments we make to governments.
In 2018, we refreshed our sustainability strategy, developing an integrated approach linked to the United Nations’ Sustainable Development Goals. This approach ensures that material sustainability issues are integrated into our business strategy. The taxes and royalties we pay to national, regional and local governments are an important part of this approach, and of our contribution, enabling governments to provide essential services to communities and to invest for the future.
In 2018, the Rio Tinto Group paid $6.6 billion in taxes and royalties globally, including $4.8 billion paid in Australia. Since our first Taxes paid report in 2010, we have paid $63 billion in taxes and royalties globally, of which over 70%, or $46 billion, was paid in Australia. We believe tax transparency promotes trust and credibility – not just in companies, but also in the tax regimes in which we operate. At the same time, it helps governments make policy decisions to support stable and effective tax systems. Our 2018 transparency statement seeks to translate this belief into action: we will disclose contracts with governments in relation to minerals development where they are not subject to a confidentiality undertaking, and encourage governments to allow such disclosure. We commit to continue to disclose taxes and royalties paid, and other payments to governments. We also support the disclosure of beneficial ownership and will strive to provide information that includes our joint venture relationships, in line with the Extractive Industries Transparency Initiative (EITI) and expectations.
We also commit to continuing to engage with communities, governments, civil society and investors to ensure that our economic contribution benefits intended localities and populations. We are convinced that creating a consistent standard by which companies can report their contributions with integrity and responsibility is essential to promoting confidence in business. In 2018, we were proud to add our endorsement to the B Team Responsible Tax Principles1, which define what leadership in responsible tax looks like. We also support the initiative by the Global Sustainability Standards Board of the Global Reporting Initiative in formulating a Tax & Payments to Governments standard, and we are committed to implementing the standard when it is finalised.