Iberdrola paid €10.4bn in taxes in 2025

In 2025, Iberdrola made the largest tax contribution in its history, paying a total of €10.41 billion in taxes in the countries where the company operates, according to its 2025 Fiscal Transparency Report.

Tax payments in Spain reached a new record high in 2025, reaching nearly €4.7 billion, an 8% increase on 2024. This consolidates Spain’s position as the country to which Iberdrola contributes the most in taxes – almost half of the Group’s total – despite the fact that two-thirds of Iberdrola’s business and almost 75% of its assets are in other countries.

The main reason is the number of electricity-specific taxes to which the Group is subject in Spain – a total of 41 – compared with just 28 across the other 31 countries in which the Group operates worldwide. Spain accounts for 79% of all the electricity-related taxes paid by Iberdrola worldwide.

Globally, Iberdrola allocated 44% of its profit in 2025 to the payment of taxes affecting its results. Over the last five years, Iberdrola has paid more than €45 billion in taxes, a figure equivalent to all the dividends received by shareholders between 2001 and 2026.

Iberdrola conceives its tax contribution as an essential component of its social dividend and has a well-established model of responsible taxation, based on strict compliance with regulations, transparency and consistency between its economic activity and the taxes paid. In the same way, Iberdrola’s tax strategy is based on a cooperative and trusting relationship with tax authorities, with voluntary participation in cooperative compliance programmes in countries such as Spain, the United Kingdom, Brazil, France, Portugal and Australia. The Group began voluntarily publishing its Tax Transparency Report and Country-by-Country Report in 2019, well ahead of regulatory requirements.

This approach has positioned Iberdrola as an international benchmark for transparency and good tax governance. In 2025, the company renewed its Fair Tax Mark certification, improving its score in the process, and achieved first place in the Tax Responsibility and Transparency Index, which assesses the tax governance, quality of information and tax practices of large multinationals. In addition, the company’s tax compliance system has been certified in accordance with the UNE 19602 standard, renewed for the seventh consecutive year without any non-conformities.

Tax contribution by country

Iberdrola’s tax contribution in 2025 was distributed across its main markets as follows: €4.675 billion in Spain; €2.328 billion in Brazil; €1.384 billion in the United States; €1.061 billion in the United Kingdom; €645 million in Mexico; and €317 million in the other countries in which it operates.