Iberdrola group’s direct tax contribution worldwide amounted to €8.156 billion last year, €217 million more than in 2018. This is reflected in the Fiscal Transparency Report 2019 prepared by the company for the second consecutive year, which, for the first time, contains information with a level of detail that is unprecedented for an IBEX 35 company.
The Iberdrola group's total world tax contribution amounted to almost €8,156bn in 2019
Iberdrola group's direct tax contribution worldwide amounted to €8.156 billion last year, €217 million more than in 2018. This is reflected in the Fiscal Transparency Report 2019 prepared by the company for the second consecutive year, which, for the first time, contains information with a level of detail that is unprecedented for an IBEX 35 company.
This worldwide figure includes both the taxes it has paid and those collected by the group, and it is similar to the total investments made by Iberdrola last year: €8.158 billion. The report also shows that 43 % of the company's profit goes to paying taxes, a percentage that rises to 50 % in Spain.
In fact, the group contributed the most to Spain, accounting for 43.3 % of the total (€3.529 billion). Followed by Brazil (€2.57 billion), the United States (€963 million), the United Kingdom (€639 million), Mexico (€258 million) and the other countries (€197 million).
|COUNTRY||TOTAL OWN TAXES||TOTAL TAXES RAISED||TOTAL NET CONTRIBUTION|
Figures in millions of €.
COMMITTED TO FISCAL RESPONSIBILITY
Iberdrola's purpose in producing the Fiscal Transparency Report 2019: Our Commitment to Society [PDF] is to highlight the group's significant tax contribution worldwide — which is “essential for sustaining public expenditure” in the words of the company's chairman Ignacio Galán —, especially in Spain, where the parts relating to energy taxes (€729 million) and corporate tax (€367 million) are very important.
Ignacio Galán, chairman of the Iberdrola group
Iberdrola is seeking to turn its contribution to public finances into responsible taxation through measures such as rational decision-making, enhanced cooperation with the tax authorities and transparency in the tax information provided to third parties
A key component of the social dividend of the Iberdrola group is our contribution to public responsibilities, in accordance with the law and in keeping with the expectations of the various countries in which we operate, and of society in general. The contribution of major companies to sustaining fiscal systems is vital to ensure the best possible provision of essential goods and services and at Iberdrola we are fully aware of the importance of complying with this responsibility.
With the publication of the Report on tax transparency we are taking a substantial step forward in our transparency practices by publishing all the fiscal information that may be of importance to our Stakeholders: shareholders, suppliers and to the people we supply energy to, Public Administrations and regulatory bodies, our human resources, the media and society in general.
WE CERTIFY OUR TAX COMPLIANCE SYSTEM
In addition, this second report incorporates two important new aspects:
- We are the first Spanish company to obtain an AENOR certificate for its Tax Compliance Management System, in accordance with the requirements established in the UNE 19602 standard.
- We voluntarily incorporate information relating to the distribution of profits, taxes and economic activities by tax jurisdiction from the Iberdrola group's 2019 Country-by-Country report, making the same information available to society in general as that provided to the tax authorities.
The undertaking of a responsible activity, commitment to society and transparency are the inspiration behind our day-to-day operations on tax matters. and constitute, moreover, the reference framework for the production of this report.