Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 492

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 492
---
 on the convention between the United States and the UK, and the convention between the United States and Australia (together, the Conventions) which may affect the tax consequences of the ownership of the Group’s ADSs and shares, all as of the date hereof. These laws and Conventions are subject to change, possibly on a retroactive basis. The summary describes the treatment applicable under the laws and Conventions in force at the date of this report. UK taxation of shareholdings in Rio Tinto plc The comments below are based on current United Kingdom tax law as applied in England and Wales and HM Revenue & Customs (“HMRC”) practice (which may not be binding on HMRC) as at the latest practicable date before the date of this document. This section is based on the assumption that for UK tax purposes a US holder who holds ADRs evidencing ADSs will be treated as the beneficial owner of the underlying shares represented by the ADSs. Case law in the UK has cast doubt on this view; however, HM Revenue & Customs have stated that, except in so far as the relevant US laws (being the laws applicable to the territory in which the ADRs are issued) conclusively dictate that the holder of an ADR will not have beneficial ownership in the underlying shares, they will continue to apply their practice of regarding the holder of an ADR as having a beneficial interest in the underlying shares. Taxation of dividends Under current UK tax legislation, no income tax is required to be withheld from dividends paid by Rio Tinto plc. Where dividends are paid by Rio Tinto plc to a US holder who is not resident in the UK and who does not hold the Group’s ADSs and shares in connection with any trade, profession or vocation carried on through a branch, agency or permanent establishment in the UK, no liability to UK tax will generally arise to the US holder in respect of such dividends. Capital gains A US holder, who (if an individual) is not resident in the UK for the tax year in question or (if a company) is not resident in the UK when the gain accrues, will not normally be liable to UK tax on capital gains realised on the sale of a Group ADS or share unless (i) the holder carries on a trade, profession or vocation in the UK through a branch, agency or permanent establishment in the UK and the ADS or share has been used for the purposes of the trade, profession or vocation or is acquired, held or used for the purposes of such