· The cooperative compliance programme seeks to establish a relationship of trust between tax authorities and taxpayers in order to enhance certainty about significant tax issues through ongoing preventive dialogue
· Eligibility for the programme is based on the company's adoption of an adequate system for controlling tax risk, in line with best international practice
Rome, August 7th, 2018 - The Enel Group is participating in the cooperative compliance programme through the parent company Enel S.p.A. and its main Italian subsidiary, e-distribuzione S.p.A., a company operating in the regulated electricity distribution and metering market.
The main objective of the cooperative compliance programme is to establish a relationship of trust and transparency between the Italian tax authorities and taxpayers in order to enhance certainty about significant tax issues. More specifically, the cooperative relationship is created through ongoing preventive dialogue aimed at a producing a shared assessment of situations likely to generate tax risks. The admission of the Enel Group to the programme is the final act step an assessment conducted by the Revenue Agency that began with the filing of Enel’s application for membership in December 2017. Eligibility for the programme is based on the company's adoption of an adequate system for the detection, management and control of tax risks integrated within a broader internal control system, in line with best international practice.
“Transparency and legality, distinguishing values of Enel, find further, effective expression in this innovative form of collaboration with the tax authorities”, said Patrizia Grieco, Chairman of Enel. “The Group, in accordance with its sustainability strategy, has always acted with honesty and integrity, fully aware that tax revenue makes an important contribution to the economic and social development of the countries in which it operates”.
As required by the regulations, with the admission notice issued by the tax authorities, Enel and e-distribuzione have been entered in the list of companies with fully transparent relations with the Italian tax authorities. The list is published on the Agency’s website.
For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address www.emarketstorage.com and managed by Spafid Connect S.p.A. with registered office in Milan, at Foro Buonaparte, 10. The aforementioned services are authorized by Consob (resolution No.19878 of February 15th, 2017, related to the mechanism for the dissemination to the public of regulated information “eMarket SDIR” and resolution No. 19879 of February 15th, 2017, related to the mechanism for the central storage of regulated information “eMarket Storage”).
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.