In line with its commitment to society and to the countries in which Iberdrola operates, the company contributes more than €20 million per day to public administrations, according to the Fiscal Transparency report published today. The positive impact of Iberdrola’s activity on society is reflected, in addition to its commitment to a sustainable model that promotes the economy and employment, in the contribution to the public coffers that its activity entails around the world.
Iberdrola’s tax contribution amounted to €7.5 billion in 2022 at global level, equivalent to 40% of profit before taxes and Social Security. Its contribution to the public coffers was almost double the group’s net profit.
Such is the commitment that Iberdrola will contribute more than €20 million in taxes per day in 2022, i.e., more than €600 million every month. Looking back over the last five years, the company has allocated more than €39 billion to tax payments.
This total tax contribution figure includes, on the one hand, the company’s own taxes, which amounted to €3.25 billion in 2022, and the taxes collected through its activity, which amounted to €4.2 billion.
The tax contribution is particularly relevant in Spain, where it allocates 49% of profits, the country with the highest tax burden of all those in which it invests.
The direct tax contribution, together with indirect and indirect taxes, amounts to more than 15.3 billion euros, an increase of €1.3 billion over the previous year, 10% more than the previous year.
Commitment to the regions
Iberdrola is aware of the importance and contribution of taxation to the achievement of the United Nations Sustainable Development Goals (SDGs), as the taxes paid by the group in the countries and territories in which it has a presence generate a significant employment and wealth-creating effect in the regions.
Iberdrola is subject to more than 100 different taxes around the world. Corporate Income Tax is not the only tax levied on Iberdrola, although it is one of the most significant. In 2022, it amounted to more than €1 billion globally.
Thanks to the more than €140 billion invested since the beginning of the century, Iberdrola has become an international benchmark in the fight against climate change and a driver of employment, supporting 400,000 jobs in the thousands of suppliers that make up its value chain.
In 2022, in a complex environment, the Group’s investments reached a record €10.73 billion, 13% more than in the previous year, with 90% earmarked for networks and renewables.
Iberdrola contributes through its activities to the creation of wealth and prosperity in the territories in which it operates; specifically, its contribution to the global GDP is over €37 billion, 11.9% more than in the previous year, of which €12.7 billion correspond to Spain, while its global workforce is close to 40,000 people, generating some 400,000 jobs directly, indirectly and induced around the world.