FX.co ★ Rio Tinto Pays $8.5 Billion In Taxes And Royalties Globally In 2023

Mining giant Rio Tinto disclosed that it contributed towards taxes and royalties on a global scale, which amounted to US$8.5 billion in 2023. This is a decrease from the expenditure of $10.8 billion in 2022, inclusive of $1.5 billion specifically allocated for Australian corporate tax payments linked to previous years.

The company recorded payments of taxes and royalties amounting to a total of US$6.6 billion in 2023 in Australia. This country is the hub of nearly half of Rio Tinto's global operations and the amount included US$4.1 billion as corporate tax payment.

Rio Tinto also made essential contributions towards tax and royalty in several countries: Canada (US$601 million), Chile (US$477 million), Mongolia (US$371 million), and the United States (US$123 million).

In the past decade, Rio Tinto revealed a global expenditure of US$76 billion in taxes and royalties. Notably, over 78% of this amount was paid in Australia.