Taxation
We focus on the promotion, development, and management of infrastructure aimed at delivering quality and safety to our customers—ensuring the sustainability of our projects.
Our tax strategy seeks to comply with tax obligations in each jurisdiction where we operate, minimizing the associated risks.
Our coordination between the tax area and other departments (financial, business, among others) ensures a holistic understanding to make decisions, assess any tax risks and conduct strictly lawful fiscal planning.
To achieve this, we have established a collaborative structure between the tax department and relevant financial or Business Units, enabling a unified approach to decision-making, including risk assessment and tax planning, under the strictest standards of legality.
Pillars of the fiscal strategy
Sustainability
A promise to pay all taxes on time based on local and international rules, while also helping with economic and social growth in the areas where the Group works, which means paying taxes on time according to the current regulations.
Transparency
Providing accurate and complete information to our stakeholders, including information on the tax contribution made by the Group in each of the markets in which it operates. We do this to assist and cooperate with each of the administrators we interact with.
Prudence
All of the Group’s tax positions are based on sound economic grounds, avoiding abusive tax planning schemes or practices and always bearing in mind the principle of caution when assuming risks.
Risk control
Potential tax risks are incorporated into the Group’s comprehensive risk management system, with appropriate monitoring and all necessary measures taken to minimize them.
Compliance with fiscal governance and control framework
Our fiscal control framework is structured around the following core principles:
Principles of action:
- Comprehensive management of tax matters in coordination with business activities and decisions.
- Ensure compliance with the code of good tax practices.
- Strict compliance with the tax regulations applicable in each country.
Tax compliance processes
- Standardised internal processes for managing tax matters in coordination with those responsible in Spain and in other jurisdictions.
- Tax compliance control system.
- Robust internal tax reporting system.
Team:
- Expert and experienced internal professional team.
- Proactive coordination of all its members.
- When necessary, advisors with proven solvency provide external support.
Tax risk control and management:
- Integrated tax risk management system.
- We monitor each potential tax risk in detail and adapt to new regulatory environments with flexibility.