Rio Tinto has agreed to pay the Australian taxation office an additional $613m to settle disputes over its financing arrangements and marketing hubs in Singapore, as part of what the ATO claims is one of the biggest tax settlements in Australian history.
The payment is on top of $378m the global mining giant had previously paid over the same dispute,bringing the total to almost $1bn in extra tax revenue. The ATO had been seeking about $1.2bn in tax and penalties.
