If you prefer to always view the website in English, please click here.

General policies and principles regarding taxation

Good governance, transparency and integrity

Our commitment to good corporate governance, integrity and fiscal transparency is integrated into all the activities of our business management. We have been certified by AENOR for complying with the UNE 19602 regulation in our Tax Governance Management System and with the transparency seal awarded by the Haz Foundation.

Our commitment to good governance, transparency and integrity, together with the creation of value for shareholders and investors, are an essential feature of our conduct with regard to the management of business activities.

Endesa complies with tax regulations as part of the principles that inspire the company's corporate responsibility and applies responsible tax policies by promoting a transparent, cooperative relationship with the Tax Administrations by means of a Tax Risk Control and Management System and Good Governance practices. In these four areas, Endesa undertakes the following actions:

 



FISCAL TRANSPARENCY


  • Leading position in the transparency ranking prepared by Haz Foundation.
  • t*** transparency seal awarded to the company for its compliance with 100% of the indicators of best practices in the responsible taxation area.
  • Publication of a transparency report that brings together all the relevant information with tax content.
  • Publication of details of main tax-related disputes.
  • Publication of tax contribution details by jurisdiction in which the company operates.
  • Publication detailing contributions to non-profit entities and public subsidies received.

 

 

CORPORATIVE RELATIONS

  • Adhesion of the Endesa Group to the Code of Good Tax Practices.
  • Voluntary presentation of the enhanced transparency report.
  • Letter received from the Tax Agency congratulating the company for its collaboration and exercise of transparency.
  • Participation in the Large Companies Forum.

 

TAX RISK CONTROL AND MANAGEMENT SYSTEM

  • Tax control framework adapted to the best standards and with a high level of maturity.
  • Information channel available to all stakeholders. 
  • Training employees with regard to the Tax Compliance System 
  • Aenor UNE 19602 Standard certification.


GOOD GOVERNANCE

  • No presence in tax havens at 31/12/2023.
  • Compliance with international tax standard GRI-207.
  • Non-provision of tax services by the auditor.

Values

Endesa has an ongoing commitment to good governance, transparency and integrity which, together with the creation of value for shareholders and investors, are an essential feature of its conduct in the management of business and corporate activities.

In this context, compliance with the tax legislation in force at all times is part of the principles that inspire its corporate responsibility, and the taxes paid are one of its contributions to the economic and social development of the society in which it operates. Proof of this is that compliance with tax regulations has been included among the company's values.

The Sustainability Policy also indicates that compliance with current tax legislation is one of the driving principles of sustainability, with the company's fiscal contribution being one of its main contributions to the economic and social development of the society in which it operates.

 

Tax Strategy

Endesa's Tax Strategy is governed by the following guidelines:

  • Compliance with current tax regulations, adopting a reasonable interpretation of them at all times and trying to avoid, based on this interpretation, inefficiencies and undue tax costs for Endesa.
  • The waiver of certain actions, such as: Undertaking transactions that are only for a tax benefit; a commitment to avoid the structuring of artificial transactions or transactions unrelated to the company's activity, and the use of opaque structures, for the sole purpose of reducing the tax burden; and not making investments in or through tax havens for the sole purpose of reducing the tax burden.
  • It takes into consideration the principles of the OECD's BEPS (Action Plan on Base Erosion and Profit Shifting) Project to combat base erosion and profit shifting both in Endesa and in its subsidiaries controlled in each of the jurisdictions where it operates.
  • Full cooperation with the Tax Administration in its verification actions.
  • Tax transparency vis-à-vis third parties (shareholders, customers, suppliers, employees, regulators, etc.) with regard to the current principles governing action in tax matters, on the bodies involved in Endesa's fiscal governance and on the details of its tax contribution in the countries where it operates.
  • The promotion of cooperative relations with the Tax Administration.

 

The Tax Strategy  was approved by Endesa's Board of Directors on 15 June 2015 and updated on 19 June 2017. It will be updated later when required. 

 

Tax Risk Control and Management System

The Audit and Compliance Committee (hereinafter, CAC) is entrusted with the function of supervising the operation and effectiveness of the Group's risk management and control system, including tax risks. In accordance with the provisions of the Audit and Compliance Committee Regulations, it will directly supervise the Risk Committee, which is the internal body responsible for ensuring the proper functioning of the company's risk control and management systems, ensuring the participation of Senior Management in strategic risk control and management decisions and fostering a culture in which risk is a factor to be taken into account in all decisions and at all levels in the entity.

For its part, the Risk Committee is configured as the tax compliance body, responsible for the functions of supervising the operation and effectiveness of the Group's Tax Risk Control and Management System, reporting for these purposes to the Audit and Compliance Committee, all in accordance with the provisions of the UNE 19602 Standard.

The scope of the Risk Committee covers all risks, specifically including tax risks, and excluding those already included in the Criminal Risk Prevention Model and those related to the Internal Control of Financial and Non-Financial Reporting which are reported to the CAC through other channels (Supervision Committee and Transparency Committee).

The Tax Risk Control and Management model is made up of five elements that, combined, guarantee an appropriate control system for risk prevention:

  • Control Environment: Set of standards, processes and structures that constitute the basis on which the internal control of the organisation is developed.
  • Risk assessment and control activities: Undertaken jointly by the Risk Committee and those responsible for the processes. Each identified tax risk scenario has at least one control activity whose objective is to prevent the risk from materialising and to prevent the risks analysed from occurring.
  • Supervisory activities: There is ongoing supervision to check whether its design and operation are suitable with regard to the requirements of the applicable regulations, analysing and resolving any incidents identified.
  • Information and communication: The necessary initiatives are promoted for suitable dissemination and the training of personnel, so that the members of the company can adequately comply with the provisions of the regulations.
  • Disciplinary system: Non-compliance with the measures provided in the model and with the company's rules of conduct are sanctioned by applying ENDESA's sanctioning regime contained in the company's Collective Agreement.

Risks are managed and supervised by different Units that are coordinated through the quarterly meetings of the Risk Coordination Work Group, where the Tax Affairs Area is represented by its manager.

 

ENDESA's Tax Risk Control and Management Policy is intended to be the base document for ENDESA's Tax Control Framework. It seeks to regulate the principles that should guide ENDESA's Tax Function in order to undertake proper management and control of tax risks by constructing the following:

  • The principles that should guide the management of tax risks, establishing the obligations and responsibilities within the organization in this regard and including a description of the measures that should be in place to mitigate the tax risks that may be identified.
  • The principles that should guide the correct control of tax risks, which include firstly, undertaking a series of ex ante preventive controls and secondly, the undertaking a number of ex-post checks entailing the identification, measurement, analysis, monitoring and reporting of these risks in line with the provisions of ENDESA's Risk Control and Management Policy and the ENDESA Risk Map Operating Instructions.

For Endesa, due diligence is a significant factor in the development of its business, both in relation to the control of the selection of the organisation's members (internal due diligence) and of the third parties with which it deals (external due diligence).

Since 2020, the Tax Compliance Management System has been certified by AENOR pursuant to the provisions of the UNE 19602 Standard. This Certification accredits:

  • The existence of a tax control system to identify, prevent and detect tax risks in order to avoid additional tax demands, fines from and even criminal liability vis-à-vis the Tax Authority.
  • The existence of control and mitigation mechanisms in the event that a possible fiscal risk is finally identified.

This certification serves as additional proof that our organisation is determined to comply with all its tax obligations to the tax authorities or the courts. Furthermore, the certification is compatible with ENDESA's tax responsibility policy and with its Fiscal Transparency and Ethical Compliance Policy as regards its relationship with state, regional and local government agencies.

Sello Aenor

As a key element of the System, ENDESA promotes a culture of compliance through the training of employees in this area; In this regard, the Company has launched an online course on the Tax Risk Management and Control System, the content of which deals with the different aspects of the System.

Endesa has an Internal Whistleblower Protection System, which facilitates the possibility of reporting unlawful conduct and guarantees adequate protection for whistleblowers. In this way, the company's involvement in the prevention of the commission of acts contrary to the legal system is reinforced, as an integral part of its commitment to regulatory compliance.

This System has a "Whistleblower Protection Policy", which details its scope of application, general operating principles, particularly the protection of Whistleblowers and affected persons, as well as the way in which reported facts are presented and processed. This process is detailed in a second document called the "Procedure for the Management of Reported Incidents."

In addition, the Internal Whistleblower Protection System guarantees, among other aspects, the right to submit information anonymously, the prohibition of retaliation in any of its forms, support measures or the special protection of personal data, which is further proof of Endesa's commitment to complying with the most advanced ethical and regulatory compliance principles applicable in the matter.

Endesa has an Information Channel so that all its stakeholders can communicate, securely and anonymously to guarantee the absence of retaliation, irregular, unethical or illegal conduct that, in their opinion, occurred in the development of the Company's activities. The Information Channel that Endesa makes available to all its stakeholders is also appropriate for reporting, securely and anonymously, irregular or inappropriate conduct in relation to the Tax Compliance System.

The CAC monitored the effectiveness of the risk management system, including tax risks, on a quarterly basis in 2023, as can be seen in the integrated activity report of the Board of Directors Committees.

Endesa is one of the listed companies of the electricity sector most closely aligned with the applicable best practices, according to a report by PwC following assessment of the performance of its internal risk control and management function at the end of 2021. This complies with the regulation of the Audit and Compliance Committee (CAC in Spanish), which indicates that regular assessment of the internal risk control and management function is to be performed by an independent external auditor selected by the Audit and Compliance Committee.

Endesa was awarded with the “t***” seal of transparency, which certifies compliance with 100% of the transparency indicators shown on its website and approved by the Haz Foundation, proof of the company's effort to disseminate and publishing relevant tax information on its website.

Sello Aenor
Continue reading about our commitment

Tax Information Breakdown

View more
advise icon go to the advise Facebook icon go to Facebook Twitter icon go to Twitter Youtube icon go to Youtube Messenger icon go to Messenger Linkedin icon go to Linkedin Instagram icon go to Instagram Shared Link icon Go to the shared link Checkmark Success icon Checkmark Success down arrow icon down arrow Previous Go to previous Next Go to the next close icon close add icon add up arrow icon up arrow oblique arrow icon look obliquely Arrow down icon Arrow down search engine icon search search engine icon search share icon share filter icon filter email icon send mail email icon email phone icon phone fax icon fac print icon print play icon play user icon go to the user section error icon an error has occurred info icon information thumb up icon like thumb up icon like thumb down icon don't like thumb down icon don't like clock icon Clock Lamp icon Lamp List icon List Map icon Go to the map Phone icon Phone Emergency icon Emergency Pause icon Pause Play icon Play Logout icon Sign off Phone icon Phone Download icon An icon representing a download Chat icon An icon representing a chat
go back icon go back in navigation number 50 icon go to product Tempo Happy 50 Horas calendar icon go to product Tempo Happy Día companies icon go to the business segment gas icon go to gas product catalog rising sun icon go to Tempo Verde-Renewable Energy product home icon go to the household segment 24 hours icon go to One Luz product electricity icon go to Luz's product catalog electricity and gas icon go to the Luz + Gas product catalog moon icon go to product One night light monkey wrench icon go to breakdowns and repairs sun icon go to Tempo Solar product clock icon go to Tempo Happy products 2 hour clock icon go to Tempo Happy 2 Hours product 24 hours icon go to product One Luz number 50 icon go to product Tempo Happy 50 Hours Medium Voltage power line See product catalog with electricity consumption from € 36,000 to € 360,000 / year High Voltage power line See catalog of products with electricity consumption more than € 360,000 / year company icon go to the business segment calendar icon go to product Tempo Happy Day Property management firms icon go to the Property management firms DarkSite icon DarkSite icon light bulb icon See product catalog with electricity consumption less than € 6,000 / year electricity and gas icon go to the Electricity+ Gas Products catalog electricity icon go to the electrical products catalog email icon email contact fax icon fax contact Low Pressure gas icon see catalog of gas products with consumption of less than € 6,000 / year High Pressure gas icon see catalog of gas products with consumption from € 6,000 to € 240,000 / year Medium Pressure gas icon see catalog of gas products with consumption of more than € 240,000 / year gas icon go to gas product catalog Enel icon go to the enel website heater icon heater maintenance service heater maintenance icon go to maintenance service OKGas Heater home icon go to the household segment pressure cooker icon pressure cooker monkey wrench icon go to breakdowns and repairs Medium Voltage power line icon see catalog of electricity products with consumption from € 6,000 to € 36,000 / year moon icon go to product One Night Light sphere icon go to personal website phone icon telephone contact rising sun icon go to Tempo Verde-Renewable Energy product solar panel icon go to photovoltaic solar energy clock icon go to Tempo Happy products black handyman icon with thumb down selected the reaction "I don't like it" little hand icon with thumb down select the reaction "I don't like it" black hand icon with thumb up selected the "like" reaction little hand icon with thumb up select the "like" reaction
Añadir otro equipo eléctrico Lorem ipsum dolor sit amet, consectetur adipisicing elit. Eliminar equipo eléctrico Lorem ipsum dolor sit amet, consectetur adipisicing elit. Aspiradora Lorem ipsum dolor sit amet, consectetur adipisicing elit. Horno Lorem ipsum dolor sit amet, consectetur adipisicing elit. Lavadora Lorem ipsum dolor sit amet, consectetur adipisicing elit. Lavavajillas Lorem ipsum dolor sit amet, consectetur adipisicing elit. Microondas Lorem ipsum dolor sit amet, consectetur adipisicing elit. Plancha Lorem ipsum dolor sit amet, consectetur adipisicing elit. Punto de recarga vehículo eléctrico Lorem ipsum dolor sit amet, consectetur adipisicing elit. Radiador eléctrico Lorem ipsum dolor sit amet, consectetur adipisicing elit. Secadora Lorem ipsum dolor sit amet, consectetur adipisicing elit. Split Aire Acondicionado Lorem ipsum dolor sit amet, consectetur adipisicing elit. Termo Lorem ipsum dolor sit amet, consectetur adipisicing elit. Tostador Lorem ipsum dolor sit amet, consectetur adipisicing elit. Vitrocerámica Lorem ipsum dolor sit amet, consectetur adipisicing elit. Power edit Lorem ipsum dolor sit amet, consectetur adipisicing elit. Map marker Lorem ipsum dolor sit amet, consectetur adipisicing elit.