Rio Tinto to Dispute Australian Tax Office Penalty
September 16 2021 - 03:01AM
Dow Jones News
By Adam Clark
Rio Tinto PLC said Thursday that it intends to dispute a penalty
levied by the Australian Tax Office relating to borrowings for an
intragroup dividend.
The mining company said the ATO levied a penalty of 352 million
Australian dollars ($258.2 million) and reduced the original
interest assessment from A$47 million to A$27 million.
"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," the company
said.
Write to Adam Clark at adam.clark@dowjones.com
(END) Dow Jones Newswires
September 16, 2021 02:46 ET (06:46 GMT)
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