Tax contribution
The Iberdrola Group's total worldwide tax contribution amounted to €9.281 billion in 2023
The Iberdrola Group's direct tax contribution worldwide amounted to nearly 9.3 billion euros last year, 24% more than in 2022, which represents the payment of more than one million euros per hour. This is reflected in the Fiscal Transparency Report 2023, prepared by the company for the sixth consecutive year.
This overall figure includes both own taxes and taxes collected by the Group. The report also shows that 44 % of the company's profit was allocated to the payment of taxes, compared to 39% the previous year. Thus, in the last five years, the contribution to the public coffers of the more than 25 countries in which the company operates has exceeded 40,000 million euros paid out.
Spain was the country that contributed the most in 2023, with €3.482 billion of contribution, 35% more than in 2022. It was followed by Brazil (2.53 billion), the United States (1.261 billion), the United Kingdom (1.119 billion), Mexico (310 million) and the other countries (579 million).
| COUNTRY | TOTAL OWN TAXES | TOTAL TAXES RAISED | TOTAL NET CONTRIBUTION |
|---|---|---|---|
| Spain | 2,448 | 1,034 | 3,482 |
| United Kingdom | 570 | 549 | 1,119 |
| United States | 889 | 372 | 1,261 |
| Brazil | 235 | 2,295 | 2,530 |
| Mexico | 156 | 154 | 310 |
| Other | 119 | 460 | 579 |
| TOTAL | 4,417 | 4,864 | 9,281 |
Data provided in million €.
Committed to fiscal responsibility
Through the preparation of the Transparency Report 2023: our commitment to society [PDF] (Spanish version), Iberdrola wishes to highlight the Group's significant tax contribution throughout the world - "essential for sustaining public expenditure", in the words of the company's chairman, Ignacio Galán-, especially in Spain, where the energy tax (1.006 billion euros) and corporate income tax (925 million) are very important.
"Iberdrola's tax strategy is fully aligned with its main objective of improving the energy system towards a more autonomous one, gaining in competitiveness and caring for the planet, thereby generating progress and employment for society."
Ignacio Galán, Executive Chairman of the Iberdrola Group
A key component of the Iberdrola Group's social dividend is our contribution to the public coffers, in accordance with the law and in line with the expectations of the various countries in which we operate and society in general. The contribution of large companies to the sustainability of tax systems is essential to ensure the best possible provision of essential goods and services, and at Iberdrola we are fully aware of the importance of fulfilling this responsibility.
With the publication of the Fiscal Transparency Report, we have made substantial progress in our transparency practices, making public all fiscal information that may be relevant for our stakeholders: shareholders, suppliers and people to whom we supply energy, public administrations and regulatory bodies, our staff, the media and society in general.
We certify our tax compliance system
At the forefront of tax compliance:
- Obtaining the Fiscal Responsibility seal, which accredits transparency and best practices in tax matters, being one of the top companies in terms of fiscal transparency in the IBEX-35, according to the Haz Foundation ranking.
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Renewal of the certification of the Tax Compliance System in accordance with the requirements established in the UNE 19602 Standard. Obtained, for the fifth consecutive year, a satisfactory audit by AENOR.
- Recognition by the Spanish Tax Administration, one more year, for the voluntary presentation of the "Annual Tax Transparency Report for companies adhering to the Code of Good Tax Practices". Received letter of congratulations and express mention on the website of the Spanish Tax Administration.
- Recognition of Iberdrola's Pro Bono Jurídico Programme with the Financial Times Innovative Lawyers award in the Sustainable category. The Group's initiative stands out, among other things, for its collaboration with third sector entities by providing free legal and tax advice. The award recognises the most disruptive projects of in-house law firms and legal advisors.
Responsible business, commitment to society and transparency inspire our daily work in tax matters and are also the reference framework for the preparation of this report.
Our commitments