We strongly believe that tax transparency is another important dimension of sustainable finance.
Disclosure of our tax strategy and the details of our tax contribution in the countries we operate in South America, on the company website, underlines the importance that Enel Americas gives to tax issues, to their social role and in general to transparency as a factor that encourages sustainable development
Our approach to taxes
Honesty and integrity are core principles of our tax strategy as well as our commitment to transparency.
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.
Starting from 2018, the Group presented the Country-by-Country Report (for the years 2016 and 2017) in accordance with the recommendations provided by the OECD in the Transfer Pricing Guidelines (the so-called "three-tiered approach", articulated in the Master File, Local File, Country-by-Country Report). The report shows the aggregated data, at Country level, of all the Group companies included in the scope of the CbCR legislation, among the others, revenues, profits (or losses) before income taxes, income taxes paid and accrued. This document, prepared by Enel SpA, is transmitted to the Italian Tax Authority and by this latter provided to the Countries with which an agreement for the exchange of information is in force.
Furthermore, as of 2018, Enel has adopted a Total Tax Contribution model for Italy and the main countries in which it operates, thus providing information on all the taxes paid (as its own cost or as a substitute for tax). The 2019 report of Enel Americas, available here, underlines the importance the Group ascribes to fiscal matters and their social role as a significant contribution to the communities in which it operates