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Cooperative relationship with the Tax Administration

Committed to promoting cooperative relationships with the Tax Administration

In Spain, therefore, within the framework of the Large Businesses Forum, we took part in drafting the Code of Good Tax Practices.

Endesa is committed to the promotion of cooperative relations with the Tax Administration in the different jurisdictions in which it operates.

Therefore, in Spain Endesa participated in the redaction of the Code of Good Tax Practices within the framework of the Forum of Large Companies, resulting in the constitution of an instrument for cooperative relations between the Tax Administration and Spanish Taxpayers.

Endesa´s Board of Directors agreed to Endesa and its controlled subsidiaries signing up to the Code of Good Tax Practices.

For its part, ENDESA's Board of Directors, in its meeting on 21 December 2020, agreed that ENDESA and its controlled subsidiaries and branches in France and Portugal should subscribe to the Codes of Good Tax Practices existing in those countries.

Accordingly, specific mandatory compliance conducts have been developed for the administrators since 2016, which include:

  • The company's tax strategy shall be developed and duly justified by the Board of Directors and sent to the company's senior managers.
  •  The Board of Directors shall approve all transactions and investments that pose a particular tax risk.
  •  The company's risk management policy shall adopt measures aimed at mitigating identified tax risks and shall establish internal corporate governance rules in such regard, compliance with which may be subject to verification.
  •  The company shall employ efficient information and internal control systems as regards tax risks, and the design and operation thereof shall be fully integrated into the company's general internal control systems.
  •  The company shall provide the Tax Administration with true and accurate information on the above points.

Likewise, in compliance with the Corporate Governance regulations with regard to tax issues and the provisions of the Code of Best Tax Practices, the Audit and Compliance Committee (CAC) is informed regularly about the company's tax situation. The integrated report of activities of the Board of Director's Committees mentions that the Head of Tax Affairs contacted the CAC in 2022, which was informed about Endesa's Tax Policies in 2022, and about the inspection of Endesa's Audit Department of the Tax Compliance Management System, in compliance with the UNE 19602 standard on Tax Compliance Management Systems to maintain Aenor's certification during the financial year 2022. In addition, it received information on the issuance of a Tax Transparency Report with all relevant information for third parties.

Some of these obligations were already applicable to Endesa as they are provided for in the Capital Companies Act and Endesa is a listed company.

Furthermore, by virtue of the provisions of the aforementioned Appendix, since 2016 Endesa has decided to voluntarily submit the Enhanced Transparency Report to the tax authorities as part of its efforts to reinforce best practices in tax transparency by companies that are members of the Code. In this regard, on 21 July 2022, it submitted the Report for the 2021 financial year, as shown on the AEAT website, where it published the list of companies submitting transparency reports for the 2021 financial year, which includes the Endesa Group.

 

Relationship with stakeholders

ENDESA is firmly committed to endeavouring to explain in a transparent way tax matters that may be of interest to third parties. One of the company's values is tax transparency vis-à-vis third parties (shareholders, customers, suppliers, employees, regulators, Tax Administrations, etc.) on the principles of action in tax matters, on the bodies involved in ENDESA's tax governance and on the details of its tax payments in the countries where it operates.

In this sense, ENDESA provides through its website, in a single space, information with tax relevance for third parties, and aiming to ensure that it is permanently updated, so that it is an information space that is easily accessible and understandable within the reach of anyone https://www.endesa.com/en/our-commitment/transparency.

In addition, starting in 2020 ENDESA now publishes an annual report on Tax Transparency which brings together all the information with tax content available on its website.

Likewise, ENDESA actively participates in different forums on taxes, sustainability and corporate social responsibility, keeping up to date with news and practical improvements in the matter, the opinions and issues discussed in these forums serving for the continuous review of the information that is provided to the outside. It forms part of the tax committees of the Association of Electric Power Companies (AELEC) and the Spanish Confederation of Business Organisations (CEOE); in the latter case ENDESA participates on behalf of AELEC. ENDESA is a member, through the head of its Tax Affairs Unit, of the Spanish Association of Tax Advisors (AEDAF). In 2019, ENEL (ENDESA's Parent Company) joined the European Business Tax Forum (EBTF - https://ebtforum.org), an association that aims to open a public debate on taxation by providing a balanced and comprehensive perspective on the tax that companies pay.

ENDESA is part of the Large Companies Forum (a cooperative relationship body to promote greater collaboration between large companies and the State Tax Administration) and actively participates in it through two working groups.

In 2021, ENDESA's participated once again in the Report prepared by PwC on the Total Tax Contribution of IBEX-35 companies in 2020, which aims to study and promote the Total Tax Contribution of this group.

Continue reading about our commitment

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