Taxation
We build our tax strategy around fully complying with tax obligations in every jurisdiction we operate in while mitigating associated risks.
Coordination between our tax function and other departments (finance, business, etc.) ensures a shared vision when making decisions, evaluating tax risks, and carrying out lawful and legitimate tax 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
Risk control
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.