Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 330

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 330
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      -11 |      -40 |
| Recognition of previously unrecognised deferred tax assets(c)                         |     -640 |     -157 |     -261 |
| Write-down of previously recognised deferred tax assets(d)                            |      203 |        – |      932 |
| Utilisation of previously unrecognised deferred tax assets                            |      -42 |      -10 |      -37 |
| Unrecognised current year operating losses(e)                                         |      185 |      567 |      212 |
| Uncertain tax provision(f)                                                            |      295 |        – |        – |
| Deferred tax arising on internal sale of assets in Canadian operations(g)             |        – |     -364 |        – |
| Adjustments in respect of prior periods(h)                                            |      -13 |       31 |     -222 |
| Other items(i)                                                                        |       74 |       36 |       71 |
| Total taxation charge                                                                 |    4,041 |    3,832 |    5,614 |

(a) The Group profit before tax includes profit after tax of equity accounted units. Consequently, the tax effect on the profit from equity accounted units is included as a separate reconciling item

in this prima facie tax reconciliation.

(b) As a UK headquartered and listed Group, the reconciliation of expected tax on accounting profit to tax charge uses the UK corporate tax rate to calculate the prima facie tax payable. Rio

Tinto is also listed in Australia, and the reconciliation includes the impact of the higher tax rate in Australia where a significant proportion of the Group's profits are currently earned. The

impact of other tax rates applicable outside the UK and Australia is also included. The weighted average statutory corporate tax rate on profit before tax is approximately 29% ( 2023 : 31% ;

2022 : 29% ) .

(c) The recognition of previously unrecognised deferred tax assets in 2024 includes US$ 443million in respect of Energy Resources of Australia (ERA) and relates to rehabilitation provisions

which are tax deductible when paid in the future. In November 2024, our interest in ERA increased from 86.3% to 98.43% and Rio Tinto stated its intention to proceed with compulsory

acquisition of the remaining shares during 2025. Tax deductions for rehabilitation payments made after completion of the compulsory acquisition process will be applied against taxable

profits from other Australian operations, including our iron ore business. In