The Enel Group is committed to acting with honesty and integrity in all tax matters as part of its corporate responsibility.

The Group observes and respects all tax applicable rules in the countries where operates and considers that being responsible in the tax strategy that adopts is the best way to engage with the different stakeholders and to protect the reputation of the Group.

The Group tries to maintain an open and transparent relationship with the tax Authorities and achieve a proper behavior in tax matters in all the Group observing all applicable rules and regulations in the markets where operates. All transactions must therefore have a business purpose or commercial rationale.

In order to ensure that above principles are always observed, the Group has performed in 2013 an Organizational Procedure aiming to define roles, responsibilities and operating methods to manage the Tax Planning activities (Organizational Procedure N.° 190 dated 10/01/2013 “Tax Planning”).

The mentioned Procedure, which is an internal document applicable at Group Level, has been published in the intranet and is accessible to the Group's employees.

The main features of the Organizational Procedure is setting common principles for the Group through Global Tax Planning Guidelines that basically includes the general rules applicable on tax activities.

With reference to the mentioned Guidelines, we highlight as follows some of our principles:

  • Any proposal designed to optimize the global tax burden or to minimize the existing tax risks shall respect, in any case, the applicable tax law.
    Any Tax Planning activity shall be based on a detailed and deep analysis of the applicable regulations, administrative criteria and court practice; and the conclusions shall be based on sound technical rationales;
  • Investments in Countries included on the Black List (so called “tax haven”) for Local or Italian tax purposes can be proposed only if supported by a strong economical reason, different in respect of the simple tax saving.
  • The policy of the Group is headed by the strict observance of the law. Accordingly, entities within the Group shall be subject to the principle of transparency and legality, adhering carefully to the tax legislation of the countries in which the Group operates. In cases where the tax law does not result clear, the Relevant Tax Function shall make a reasonable interpretation of it.