https://mongolia.somo.nl/wp-content/uploads/2019/10/Mongolia-in-gold-dust.png 926 1500 Rene https://mongolia.somo.nl/wp-content/uploads/2020/02/Mongolia-black.png Rene2018-01-31 00:00:232020-02-12 14:48:37Publication of SOMO report ‘Mining Taxes’
Publication of SOMO report ‘Mining Taxes’
The publication “Mining taxes” explains how the mining giant Rio Tinto, and its Canadian subsidiary Turquoise Hill Resources, avoided nearly $470 million in Canadian taxes by using mailbox companies in two tax havens, Luxembourg and the Netherlands.
The publication also shows how an abusive investment agreement covering the Oyu Tolgoi copper and gold mine has resulted in a $230 million tax revenue loss for Mongolia. All in all, Rio Tinto’s tax schemes lead to nearly $700 million tax revenue losses for Canada and Mongolia.