Wherever we operate, we aim to contribute to the development of strong and sustainable communities. In 2012, we made an economic contribution of around $71 billion across the world, including wages and salaries, payments to suppliers, tax payments, ArcelorMittal Foundation projects, and expenditure on
research and development supporting the development of innovative products for our customers.
We make our most significant positive contribution to national and local economies through the taxes and salaries we pay, and the business we do with our suppliers.
Our company tax policy ensures that we honour all our tax obligations wherever we are in the world. ArcelorMittal upholds the highest levels of tax compliance, ethics and integrity in all transactions and interactions regarding tax.
Extractives Industry Transparency Initiative (EITI)
We support the EITI because we believe it will strengthen governance, foster socioeconomic development, and help the overall business climate to become more open, fair and competitive. We are a corporate supporter of the EITI international secretariat, and locally a member of the Multi-Stakeholder Group of EITI Liberia, where we contribute to its annual reporting process. We also support the implementation of the EITI in Kazakhstan through our membership in the Association of Mining and Metallurgical Industry of Kazakhstan, and in the USA through our membership of the National Mining Association.
The EITI was launched in 2002 to address stakeholder concerns related to the use of tax and royalty payments by extractives companies and host governments. These concerns stem from a perceived lack of transparency in these payments, and a concern that the citizens of resource-rich countries are not receiving their proper share of the benefits derived from the use of those resources, especially in the developing world. The EITI is driven by governments at a national level, and involves many stakeholder groups, including civil society, which fosters an open debate about the contribution mineral resources can make to economic and social development. It also promotes robust accounting methods and governance processes.
1Reported economic contribution is based on wages and salaries, supplier and contractor payments, corporate income tax and local taxes, capex, dividends, R&D and ArcelorMittal Foundation projects. It does not include all areas where ArcelorMittal contributes to the economy, such as through indirect job creation through the supply chain, and therefore is not exhaustive.
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