Payments to governments


Our approach to tax and transparency across the world.

What is your approach to tax and transparency?

At Glencore, we want to be recognised as a “good corporate fiscal citizen”.

Our Group Tax Policy sets out our overall approach to tax. In line with this policy, we are committed to complying with all applicable tax laws, rules and regulations.

Our aim is to achieve an optimal tax position for the Group, taking into account the sustainability and continuity of tax positions over the longer term.

We seek to be transparent in our dealings with tax authorities. We build and maintain partnerships with them, and proactively discuss matters with them to address differences of interpretation quickly and equitably.

What transparency initiatives are you involved in?

Since 2011 we are a Supporting Member of the Extractive Industries Transparency Initiative (EITI), which promotes good tax governance and transparency in the extractives industry.

In alignment with Chapter 10 of the EU Accounting Directive, Glencore discloses its economic contribution and payments to governments on a country-by-country and project-by-project basis in its Payments to Governments Report. 

How much tax did you pay in host countries in 2017?

In 2018, we paid over $5.7 billion to host governments in taxes and royalties and other payments.

Where do you pay the most taxes and royalties?

In 2018, the region where we paid the highest taxes and royalties and other payments was Australia – where we paid over USD2.19 billion.

We also paid $1.63 billion in the Democratic Republic of the Congo, USD438.31 in Kazakhstan, USD327.34 million in Canada, and USD300.04 million in Peru.

What kinds of taxes do you pay?

We pay taxes on the income we generate within a country. But we also pay other, non-income based taxes as required – such as licence fees, property taxes, capital taxes, withholding taxes, export taxes, payroll taxes, and so on.

What are royalties?

In addition to taxes, we pay royalties. Depending on regulations around the world, these are based on a percentage of either the revenue we earn, or the volume of a natural resource we extract and sell.