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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Rio Tinto Limited | ASX:RIO | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.86 | 1.43% | 131.66 | 131.71 | 131.80 | 131.88 | 129.68 | 130.92 | 1,329,352 | 07:35:40 |
From May 2021 to May 2024
On 2 March 2021 the Australian Taxation Office (ATO) issued Rio Tinto Limited with amended assessments related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. The borrowing was repaid in 2018.
The ATO has today issued further assessments in relation to the same transaction levying penalties of A$352m (US$257.9m) and reducing the original interest assessment from A$47m to A$27m (US$19.8m).
Borrowing to fund the payment of a dividend is a normal commercial practice. Rio Tinto is confident of its position and will dispute the primary tax and penalty assessments. In accordance with the usual practice Rio Tinto has paid 50% of the primary tax up-front as part of the objections process. Penalties and interest are not required to be paid until the primary tax matter is resolved.
Rio Tinto Limited paid more than A$8.4bn (US$6.4bn) of Australian income tax during the relevant period.
Please direct all enquiries to media.enquiries@riotinto.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210915006227/en/
Media Relations, UK
Illtud Harri M +44 7920 503 600
David Outhwaite M +44 7787 597 493
Media Relations, Americas
Matthew Klar T +1 514 608 4429
Investor Relations, UK
Menno Sanderse M: +44 7825 195 178
David Ovington M +44 7920 010 978
Clare Peever M +44 7788 967 877
Media Relations, Australia
Jonathan Rose M +61 447 028 913
Matt Chambers M +61 433 525 739
Jesse Riseborough M +61 436 653 412
Investor Relations, Australia
Natalie Worley M +61 409 210 462
Amar Jambaa M +61 472 865 948
Rio Tinto plc
6 St James’s Square London SW1Y 4AD United Kingdom
T +44 20 7781 2000 Registered in England No. 719885
Rio Tinto Limited
Level 7, 360 Collins Street Melbourne 3000 Australia
T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404
Category: General
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