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Best practices
In its session on 29 September 2015, Red Eléctrica Corporación, S.A.'s Board of Directors approved the group's adherence to the Code of Best Tax Practices, which had been approved by the Large Business Forum based on the guidelines proposed by the Spanish Tax Authority (AEAT).
Said undertaking took place in October 2015 and is aligned with the principles and guidelines for action on tax matters established in the tax strategy of the group.
Good tax practices are defined in the Code as ‘all those leading to the reduction of significant tax risks and the prevention of behaviours that may generate them.’ The Code aims to increase the effectiveness of Tax Authority controls and reduce legal uncertainty for companies and litigation that arises between them.
The Code is structured around three main groups of best tax practices:
1
Transparency, good faith, and cooperation with the Tax Authority. To avoid opaque structures and involve the Board of Directors in tax policies.
2
Transparency and legal certainty for the application and interpretation of tax rules by the Tax Authority. Consistency in the Authority's criteria and publication of the tax treatment applied to certain transactions.
3
Reduction of litigation and prevention of conflicts in tax inspection and management.
Redeia, following the principle established in its Tax Strategy and in the Code of Ethics and Conduct, has no presence, nor does it carry out any activity in those territories considered to be tax havens or non-cooperative jurisdictions in accordance with current legislation:
Spanish regulations contained in the first and tenth additional provision and second transitory provision of Law 36/2006, of 29 November, on measures for the prevention of tax fraud (as amended by Law 11/2021, of 9 July, on measures to prevent and combat tax fraud, with effect from 11 July 2021) and in Order HFP/115/2023, of 9 February, which determines the countries and territories, as well as the harmful tax regimes, that are considered to be non-cooperative jurisdictions.
European Union list of non-cooperative countries and territories for tax purposes.