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Tax system

01 Apr 2024

BBVA contributed a record €7,668 million in own taxes in 2023 across all the countries in which it operates.  A further €5,950 million was also collected from third parties, making a grand total of €13,618 million in taxes, the highest tax contribution ever recorded by the bank. In Spain alone, BBVA paid a total of €1,191 million in its own taxes. With third-party taxes included, the bank contributed €3,384 million to the public treasury. This effort reflects BBVA's commitment to the social and economic well-being of the countries within its footprint and its strong support for local economies.

12 Dec 2023

BBVA has updated the Group's Tax Strategy, last published in 2015. The bank thereby addresses rising interest among analysts, investors and wider society in corporate decisions with an impact on environmental, social and good governance issues. The new strategy strengthens the governance, oversight and control structure by creating a specific tax compliance body and integrating ESG criteria in tax decision-making.

29 May 2023

03 Apr 2023

BBVA reported a total tax payment in 2022 of €10,948 million (+33 percent vs. 2021) across all the countries in which it operates, of which €5,023 million (+65 percent) were its own taxes and €5,925 million (+14 percent) were third-party taxes. This was the highest tax payment ever recorded by the Group, in line with its earnings performance during the past year. In Spain, BBVA generated a total tax contribution of €2,759 million, of which €1,326 million consisted of its own taxes (+42 percent).

26 Apr 2021

Just as every year since 2012, BBVA has voluntarily released its Global Tax Contribution report. In 2020, the Group carried out an additional exercise of transparency including, for the first time ever, non-financial public information in standard GRI 207. This standard allows entities to disclose comparable information regarding their fiscal strategy, governance model and tax risk management, as well as their contribution on a per country basis. Overall, BBVA Group’s worldwide tax contribution in 2020 amounted to €8.33 billion.

02 Dec 2020

In recent weeks, BBVA has been recognized for its efforts in fiscal transparency at events, on rankings, and in reports from different fields: the consulting firm PwC, the Dow Jones Sustainability Index and the NGO Intermon Oxfam. These recognitions are the result of the bank’s commitment to customers, shareholders and employees, which are reflected every year in the publication of its global fiscal contribution report. 

17 Dec 2019

26 Jun 2019

17 May 2019

26 Mar 2019

CSR Europe and PWC have recognized BBVA for its transparency and best practices in tax issues. At an event in Brussels, this European corporate social responsibility network and the global consulting firm presented a report on the best corporate practices for tax matters. In a world where companies are expected to have a sustainable business in every respect, BBVA was one of the large global companies to present its best practices at the event.

26 Jun 2018

24 Aug 2017

Jackson Hole is a town of only 9,000 inhabitants located in a valley in the middle of the Rocky Mountains in the US State of Wyoming. Apparently, there is nothing newsworthy about it, and, so, why have we been reading and hearing its name so often in the media lately?

24 Jul 2017

For every 100 euros European citizens earn, they pay an average of 50 euros in taxes and contributions.  Of the amount they pay in taxes, only 1 euro is devoted to financing the budget of the European Union.  Thus, in total, Europe manages a budget equivalent to 1% of the gross national income of its Member States.  However, the way this money is invested has a direct impact on the lives of Europeans.

The current climate of change inside and outside Europe has led the European Commission to reflect on the future of its public accounts.  In the document entitled  'The Future of EU finances', the Commission analyzes the current configuration of the budget and its future options. This document is part of a series of reflections brought about by the White Paper on the future of Europe, which set forth the different challenges and scenarios the EU will be facing through 2025.

19 Apr 2017

03 Apr 2017

Last year BBVA Group paid €3.76 billion in taxes on its global operations, 25.15% more than in 2015. Its global tax contribution (counting own taxes and third party taxes it manages) stood at €9.44 billion. For fifth consecutive year, BBVA is voluntarily releasing its tax contribution, in line with its corporate transparency principle and its social responsibility commitment.

14 Sep 2016

01 Apr 2016

Last year, the Group paid €2.82 billion in taxes on its activity across the world. The total amount of taxes paid over the year (including both own taxes and the third-party taxes it manages) was €8.16 billion. For the third year in a row, BBVA Group has published its total tax contribution figures, standing by its corporate transparency principle and its commitment to social responsibility.

29 Jan 2016

28 Dec 2015

The European Commission's proposed financial transaction tax (FTT), would be imposed in 10 EU countries (including Spain). It is popularly known as the Tobin tax, as it is similar to the one advocated in 1972 by the US economist, James Tobin, although it has a broader scope and serves a different purpose than the original. The FTT aims to levy all financial asset transactions (shares, bonds and derivatives) carried out in the secondary market. It is due to come into force in 2017.