The group apportioned over 47% of its profits to the payment of taxes during the financial year 2018, a percentage that rose to 60% in the specific case of Spain.
As detailed in the Report on tax transparency: Our commitment to society [PDF], Iberdrola's total tax contribution in Spain throughout the last financial year amounted to €3.642 bn: €1.77bn of own tax contribution and another €1.872bn paid by the company for third parties. This sum represents 60% of the profit before tax in Spain.
Own tax contribution includes, among others, energy taxes (€778m) Company Tax (€589m), local taxes (€254m) and business taxes in connection with salaries (€133m).
Taxes raised for third parties include, among others VAT or similar (€1.57bn) and third party income retentions (€275m).
|COUNTRY||TOTAL OWN TAXES||TOTAL TAXES RAISED||TOTAL NET CONTRIBUTION|
Figures in millions of €.
At group level, Spain was the country where most was paid, 46% of the above amount (€3.642bn). Followed by Brazil (€2.433bn), the US (€904m), the UK (€612m) and Mexico (€159m).
COMMITTED TO FISCAL RESPONSIBILITY
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.
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.