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Rio Tinto chief financial officer Guy Elliott, who said the company makes significant contributions to public finances in all the countries it is doing business, said this was part of a total of US$11,6 billion taxes the company paid globally in 2012.

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

“Rio Tinto encourages governments to work together to adopt a global approach that establishes consistent disclosure requirements that promotes sound tax governance, accountability and transparency,” said Elliot.

This is the third year that Rio Tinto has published its Taxes Paid report. The company has business units in South Africa, Namibia, Madagascar, Guinea, Zimbabwe and exploring in several African countries. – CAJ News.