Iberdrola raises its contribution to the public coffers by 24%
Iberdrola has consolidated its position as one of the companies that contributes most to taxation in the countries in which it operates.
Its commitment to public administrations resulted in a historic contribution of almost 9,300 million euros; specifically, 9,281 million euros last year, 24% more than in 2022, according to the group's fiscal transparency report. This figure is equivalent to more than one million euros an hour.
Spain is the country in which the company contributes the most of all those in which it is present. At present, it is close to 3,500 million euros, which represents an increase of 35%, according to its tax report.
The positive impact on society of the activity of the electricity company chaired by Ignacio Galán is reflected both in its commitment to a sustainable model, which promotes the economy and employment, and in its tax contribution.
Thus, in the last five years, the contribution to the public coffers of the more than 25 countries in which the electricity company operates has exceeded 40,000 million euros.
Iberdrola's historic contribution in 2023, considering exclusively taxes affecting the income statement, 44% of its profit before taxes and Social Security.
The increase in Spain was mainly due to electricity taxes -such as the 1.2% levy on sales or the hydraulic canon-. Apart from the significant increase in corporate income tax, other taxes practically doubled. In Spain, taxes and charges affecting the income statement, excluding corporate income tax, represent 123% of net operating expenses, a very striking figure compared to the same percentage in the rest of the world (22%).
Iberdrola's total contribution by country is led by Spain (3,482 million euros), followed by Brazil (2,530 million), the United States (1,261 million), the United Kingdom (1,119 million) and Mexico (310 million). The rest of the countries contributed 579 million euros.
The company as a driver of wealth
Iberdrola is aware of the importance and contribution of taxation, as the taxes paid by the group in the countries and territories in which it is present generate a significant effect on employment and wealth in the regions.
Iberdrola pays more than 60 different taxes around the world, more than half of which are in Spain. Corporate Income Tax is not the only tax levied on Iberdrola, although it is one of the most significant, amounting to 1,500 million euros at the global level last year.
