ATO probes Rio on its pricing of aluminium

Original article by Peter Ker
The Australian Financial Review – Page: 13 : 25-Feb-20

Rio Tinto’s Australian aluminium business is the subject of a transfer pricing assessment by the Australian Taxation Office. It is understood that the ATO’s investigation is looking at Rio’s Boyne aluminium smelter in Queensland, and the manner in which transactions between Boyne and Rio’s Singapore marketing hub have been structured in recent years. The ATO’s investigation comes at a time when Rio is holding discussions with governments concerning a possible rescue package for its loss-making Australian aluminium smelters. The ATO also launched a $212 million transfer pricing claim against Alcoa in December.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN TAXATION OFFICE, ALCOA OF AUSTRALIA LIMITED

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