Tax contribution
The Iberdrola Group's total worldwide tax contribution amounted to €7.458 billion in 2022
The Iberdrola Group's direct tax contribution worldwide amounted to nearly 7.5 billion euros last year, which represents the payment of more than 600 million euros in taxes per month and more than 20 million euros every day. This is reflected in the Fiscal Transparency Report 2022, prepared by the company for the fifth consecutive year.
This overall figure includes both own taxes and taxes collected by the Group. The report also shows that 39 % of the company's profit was allocated to the payment of taxes, equivalent to 1.7 times the net profit obtained by the company at global level. This percentage rises to 49 % in the case of Spain, the country with the highest tax burden for the Group.
In fact, Spain was the country that contributed the most, with 34.6% of the total (€2.585 billion). It was followed by Brazil (2.27 billion), the United States (1.233 billion), the United Kingdom (674 million), Mexico (267 million) and the other countries (429 million).
| COUNTRY | TOTAL OWN TAXES | TOTAL TAXES RAISED | TOTAL NET CONTRIBUTION |
|---|---|---|---|
| Spain | 1,740 | 845 | 2,585 |
| United Kingdom | 197 | 477 | 674 |
| United States | 870 | 363 | 1,233 |
| Brazil | 180 | 2,090 | 2,270 |
| Mexico | 150 | 117 | 267 |
| Other | 118 | 311 | 429 |
| TOTAL | 3,255 | 4,203 | 7,458 |
Data provided in million €.
Committed to fiscal responsibility
Through the preparation of the Transparency Report 2022: our commitment to society [PDF], 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 (475 million euros) and corporate income tax (783 million) are very important.
Ignacio Galán, chairman of the Iberdrola group
This report reaffirms Iberdrola’s defence of a fair and appropriate tax framework that maintains the necessary levels of sufficiency, promotes economic activity and competitiveness, and favours the achievement of environmental objectives
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
In addition, this fifth edition incorporates two important frameworks:
- Renewal of the certification of the Tax Compliance System in accordance with the requirements established in the UNE 19602 Standard. Obtained, for the fourth consecutive year, a satisfactory audit by AENOR.
- Recognition by the Spanish Tax Administration 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.
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