The Rudd media propaganda being paid for by us talking about...

The Rudd media propaganda being paid for by us talking about having a "fair" tax for mining companies is now in full swing.

It is a deception of the Australian public, being paid for by the Australian public thanks to Rudd's low ethics and panic over this issue.

Here is what RIO has just released to the ASX, clearly showing that RIO has paid its fair share of taxes in contrast to the nonsense spun by Comrade Rudd.

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Rio Tinto Australian investment and taxation payments

Rio Tinto today released figures confirming the level of direct taxes paid in Australia and its investment in Australian operations.

More than A$20 billion was paid in corporate taxes and royalties alone in the past 10 years. Rio Tintos effective tax rate averaged more than 35 per cent. About three quarters of these taxes and royalties have been paid in the past five years, underlining our growing tax contribution.

Rio Tinto Chief financial officer Guy Elliott said the data, verified by independent external auditors PricewaterhouseCoopers, would help end much of the uncertainty created by contradictory information that had emerged since the Governments proposed mining super tax was announced on 2 May 2010.

These figures confirm previous statements made by Rio Tinto about the level of tax paid in Australia. Misleading information propagated by other parties has not facilitated a proper dialogue about the importance of the minerals sector to all Australians. Thats why we thought it was important to get the facts out there, Mr Elliott said.

The details we are releasing today leave no room for doubt about Rio Tintos substantial contribution to Australia and the Australian economy, he said.

Put simply, these figures demonstrate that Rio Tinto, one of Australias biggest taxpayers, pays its fair share of taxes. It should also be emphasised that the data shows Rio Tinto has effectively invested all of its Australian profits, and more, back into Australia in the past decade.

In Australia, Rio Tintos tax payments include royalties on the value and/or the volume of minerals extracted, in addition to company tax levied on the taxable income of the business.

In the past five years alone, Rio Tinto paid A$11.2 billion in company tax and A$4.1 billion in royalties. The effective rate of taxation during that period averaged 34.7 per cent.

Corporate taxes amounted to A$14.6 billion and royalties were A$5.7 billion in the period 2000-2009. Rio Tintos rate of taxation over the 10 years to 2009 averaged 35.6 per cent of its earnings before tax payments in Australia.

Rio Tinto has generated net profit after tax of A$37.4 billion in Australia in the 10 years to 2009. During the same period the company re-invested more than A$38 billion back into Australia through capital expenditure (A$26.4 billion) and acquisitions (A$12.0 billion)."

The ASX release "Rio Tinto Australian investment and taxation payments" has some tables which are not included here.