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OUR TAX CONTRIBUTION

Tax is vital for the economic and social development. We have an unwavering commitment to comply with tax legislation in every country where we do business.

Tax is vital for the economic and social development of society, the protection of the vulnerable, and the responsible stewardship of the environment. 

We have clear guiding principles on tax that spell out our unwavering commitment to comply with tax legislation in every country where we do business and to follow ethical tax practices in a transparent way.

Our Tax PolicyPDF, 62Kb

We are proud to have established positive relations with government tax authorities across the world built on good faith, collaboration and mutual trust, and with the clear purpose of ensuring that we are interpreting each country’s tax legislation in the way it was intended.

We have made a total tax contribution of €5.6 billion in the last fiscal year

We believe that companies should pay their fair share in each country they do business. We do not use shell companies, opaque business structures, tax havens or any other tax avoidance schemes, as evidenced when checking. We follow ‘arm’s length principles’ and the international transfer pricing rules adopted by the Organisation for Economic Cooperation and Development (OECD). These have been developed to prevent multinational companies from channelling profits from high-tax regimes to lower ones. 

Following these principles, we are proud to have made a total tax contribution in 2016 of €5.6 billion.

Spain, our contribution totaled €1.6 billion, including direct taxes paid and indirect taxes collected. The effective corporate income tax rate in Spain was 24.7%, barely shy of the statutory rate of 25%. During the last five years, our effective tax rate in Spain averaged 26.38%, having contributed over €2 billion in total, a sum equivalent to over 2% of all corporate income tax collected by the Spanish state. 

Our tax contribution, in numbers:
  • €5.6 million total tax contribution in 2016
  • €2.5 billion direct taxes
  • €1.6 total tax contribution in Spain