Major RioTinto has settled a tax dispute with the ato_gov_au over ironore and aluminium sales, marking one of the largest settlements in the country's history mining resources taxes corporate Singapore
PERTH – The Australian Taxation Office has reached a settlement with mining major Rio Tinto resolving a disagreement relating to interest on an isolated borrowing used to pay an intragroup dividend in 2015.
As part of this agreement, Rio Tinto will pay to the ATO additional tax of A$613-million for the twelve historical years. This is in addition to the A$378-million of tax paid in respect of the original amended assessments issued by the ATO. Over this period, Rio Tinto paid nearly A$80-billion in tax and royalties in Australia.
“Rio Tinto remains committed to our commercial activities in Singapore and the valuable role played by our centralised commercial team,” he added.
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