Rio Tinto has a billion ways not to tell you about its tax problems
Reviews, discussions, a close checking process – Rio Tinto has paid $1.1 billion in settlements but don’t ever suggest it has trouble with the Tax Office.
Rio Tinto’s report of its $991 million tax settlement last week came with its customary brio and misdirection. If only the numbers added up.
Rio has a billion ways not to tell you about its tax problems. In April 2015, The Australian Financial Reviewrevealed the astounding profits notched up by BHP and Rio’s Singapore marketing hubs ($US941 million for BHP and $719 million for Rio in 2014 alone). Three days later, at the Senate tax avoidance inquiry, their indignation was palpable.
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Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au
