Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 350

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 350
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2,249million ) where the Group is able to control

the timing of the remittance and it is probable that there will be no remittance in the foreseeable future. If these earnings were remitted, tax of US$ 99million ( 2023 : US$ 110million ) would be

payable.

| Other relevant judgements - recoverability of deferred tax assetsIn considering the recoverability of deferred tax assets, judgement is required regarding the extent to which certain risk factors are likely toaffect the recovery of these assets. These risk factors include the risk of expiry of losses prior to utilisation, the impact of other legislation ortax regimes, such as minimum taxes, and consideration of factors that lead to the generation of losses or other deferred tax assets. IAS 12requires us to consider whether taxable profits will be available against which deferred tax assets may be utilised.The Mongolian Tax Authority has issued a number of tax assessments covering the fiscal years 2013 to 2020, the most recent of which wasreceived in December 2023, which are inconsistent with the Oyu Tolgoi Investment Agreement and Mongolian legislation. The matters underdispute have been referred to international arbitration. Differences in interpretation of the Investment Agreement and Mongolian legislationcould have a material impact on the amount and/or recovery of recognised deferred tax items, including tax losses. The arbitration processon matters of this complexity can typically take over 12 months to conclude. |

| Annual Report on Form 20-F 2024 | 195 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

15 Deferred taxation continued Analysis of deferred tax assets

The recognised amounts in the table below do not include deferred tax assets that have been netted off against deferred tax liabilities.

|                 | Recognised |          | Unrecognised |          |
| At 31 December  |   2024US$m | 2023US$m |     2024US$m | 2023US$m |
| France          |          – |        – |        1,233 |    1,320 |
| Canada          |        331 |      383 |          511 |      501 |
| US(a)           |        262 |      204 |          926 |      977 |
| Australia       |      1,132 |      991 |          563 |      842 |
| Mongolia(b)     |      1,780 |    1,530 |