AENOR certifies Endesa for its tax Compliance Management System

  •  Tax compliance certification enables companies to show that they prevent and mitigate tax risks by fulfilling the requirements of the UNE 19602 standard. 

Endesa has obtained the AENOR certificate for its Tax Compliance Management System in accordance with the requirements established in the UNE 19602 standard. This certificationconfirms  the company's commitment to transparency in tax matters and its will to detect, prevent and correct tax risks.

The UNE 19602 standard, published in February 2019, establishes requirements and guidelines for companies to voluntarily implement a system that reinforces best tax compliance practices. The standard requires that businesses must identify and assess potential tax risks and establish financial controls to minimise them, as well as due diligence processes for the organisation's exposed personnel and suppliers, and a channel for complaints and consultations.

AENOR certification takes Endesa's corporate governance policy one step further and strengthens its organisational culture based on transparency and cooperation with government agencies.

The company showed this commitment by adhering to the Code of Good Tax Practices (CBPT) in 2010, an undertaking ratified in 2016 for the parent company and its Spanish-controlled subsidiaries which incorporated new obligations regarding conduct. Since 2016, Endesa has also submitted an Enhanced Transparency Report to the State Tax Administration.

For the second consecutive year, ENDESA has been named the most transparent IBEX company in tax matters, according to the 2019 Contribution and Transparency Report, published by the FundaciónCompromiso y Transparencia (“Commitment and Transparency Foundation”). This year, Endesa was also selected by the Spanish CSR Observatory as the large Spanish listed company that best reports non-financial information in its annual reports.

In line with Endesa's policy of transparency, since 2014 the most significant tax payments made in the countries in which it operates have been published voluntarily. In 2019, Endesa's total tax contribution amounted to €4.113bn, of which €1.669bn are amounts paid by the group and €2.444bn are amounts collected as a result of Endesa's business activity. 92% of the tax payment and revenue in 2019 was in Spain, where taxes to the sum of €1.656bn were paid with €2.114bn in revenue.

For more information about Endesa’s Tax Transparency policy, see the Tax transparency section of our website.

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