COMPANIES

"Rio Tinto has pioneered the practice of corporate tax transparency"

Rio Tinto (LN:RIO) has stepped up its argument against an A$447 million tax bill, outlining the details of the US$4 billion in taxes and royalties it paid globally during 2016 with the majority paid in Australia.

Rio Tinto chief financial officer Chris Lynch

Rio Tinto chief financial officer Chris Lynch

The move follows the Australian Tax Office issuing a bill for A$447 million (US$335 million) for Rio’s money movements between Australia and the group’s commercial centre in Singapore between 2010-2013....

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