Tax strategy, governance and compliance
Since 2017, the Enel Group has adopted a tax strategy, as a set of principles and guidelines inspired by values of transparency and legality. The Group’s subsidiaries are required to adopt the tax strategy approved by the parent company, thereby assuming the responsibility of ensuring it is acknowledged and applied.
Tax strategy principles
Values: in line with its sustainability strategy, the Group acts in accordance with the values of honesty and integrity in its tax management, being aware that tax revenue is one of the main sources of contribution to economic and social development of the countries where it operates.
Legality: the Group pursues behaviour geared towards compliance with the applicable tax rules and is committed to interpreting them in a way that respects both the substance and form.
Tone at the top: the Board of Directors has the role and responsibility of leading the dissemination of a corporate culture based on the values of honesty and integrity and the principle of legality.
Transparency: the Group maintains collaborative and transparent relations with tax authorities, enabling them – among other things – to gain a full understanding of the facts underlying the application of tax rules.
Shareholder value: the Group considers taxes as a business cost and, as such, believes that they must be managed in compliance with the principle of legality, with the aim of safeguarding the Group’s assets and pursuing the primary interest of creating value for shareholders in the medium to long term.
Tax governance, control and risk management