In a report, Rio Tinto was accused of “illegitimately lowering” its withholding taxes paid to the government of Mongolia in relation to the Oyu Tolgoi copper mine. Rio allegedly did this by using a double tax agreement between Mongolia and the Netherlands, in addition to which it negotiated an even lower rate of withholding tax in its amended mining agreement in 2011. This piece reviews Rio’s tax arrangements.
NRGI offers global and regional courses (both in-person and online) that are tailored to civil society advocates, government officials, journalists, parliamentarians and other actors who are working to improve the management of oil, gas and minerals.
As the largest resource-for-infrastructure deal ever reached at the time of its signature, the Sicomines case has generated much controversy in Kinshasa, Beijing, and Western capitals alike. It is so large in scale that its value exceeded the Congolese state budget the year it was signed.
Last year’s meeting in Cape Town was overshadowed by pessimism in the wake of tumbling commodity prices and organizers tried to boost morale by encouraging participants to look “beyond the cycle.” But this year the buzz word for multilaterals was sustainability.