Rio Tinto’s Australian tax bill for 2014 was $6.2 billion

Rio Tinto paid $6.2 billion in taxes to Australian governments last year.

Releasing its annual taxes paid report, the miner revealed it paid $US7.1 billion in taxes around the globe in 2014, and a further $US1.8 billion on behalf of its employees. $US5.6 billion and $US1.1 billion of these totals respectively were paid in Australia.

The West Australian government benefited the most with a record $US2 billion payment due to the increased level of iron ore production.

Queensland was next at $US218 million, the New South Wales government pocketed $US184 million while the Northern Territory received $US34 million.

“Rio Tinto continues to be a major contributor to the economies of its host nations, but most particularly in Australia,” chief financial officer Chris Lynch said.

The report shows last year’s global effective tax rate was 43 per cent. Between 2010 and 2014, the company paid an average effective rate of about 42.5 per cent

The company made a profit of $US6.5 billion in 2014.

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