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        <title>Tax system - NEWS BBVA</title>
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        <link>https://www.bbva.com/en/</link>
        <description>NEWS BBVA</description>
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                    <title>BBVA boosts its contribution to society with a record tax payment in 2023</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-paid-more-than-e7-6-billion-in-own-taxes-in-2023-53-percent-its-highest-ever-figure/</link>
                    <pubDate>Mon, 01 Apr 2024 08:34:30 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Javier Díaz Jiménez]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Economy]]>
                            </category>
                                                    <category>
                                <![CDATA[Economy and Finance]]>
                            </category>
                                                    <category>
                                <![CDATA[Financial markets and monetary economics]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?post_type=economyfinance&#038;p=1033685</guid>
                                            <description>
                            <![CDATA[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.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[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.]]>
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                    <title>BBVA bolsters its Tax Strategy by prioritizing sustainability and good corporate governance</title>
                    <link>https://www.bbva.com/en/economy-and-finance/bbva-bolsters-its-tax-strategy-by-prioritizing-sustainability-and-good-corporate-governance/</link>
                    <pubDate>Tue, 12 Dec 2023 15:00:07 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[U518671]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Corporate communication]]>
                            </category>
                                                    <category>
                                <![CDATA[Economy]]>
                            </category>
                                                    <category>
                                <![CDATA[Financial system]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=1017064</guid>
                                            <description>
                            <![CDATA[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.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[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.]]>
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                    <title>Deferred tax assets (or DTAs): What are they and how do they work?</title>
                    <link>https://www.bbva.com/en/economy-and-finance/deferred-tax-assets-or-dtas-what-are-they-and-how-do-they-work/</link>
                    <pubDate>Mon, 29 May 2023 09:16:50 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[María Prados]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Economy]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=994999</guid>
                                            <description>
                            <![CDATA[Deferred tax assets, or DTAs, are a company's claim against the tax authorities. DTAs arise mainly in two ways: through losses that can be offset against future profits or through prepayments of taxes recoverable in the future.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[Deferred tax assets, or DTAs, are a company's claim against the tax authorities. DTAs arise mainly in two ways: through losses that can be offset against future profits or through prepayments of taxes recoverable in the future.]]>
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                    <title>BBVA paid record taxes in 2022, with its own and third-party taxes combined coming to almost €11 billion (+33 percent)</title>
                    <link>https://www.bbva.com/en/bbva-paid-record-taxes-in-2022-with-its-own-and-third-party-taxes-combined-coming-to-almost-e11-billion-33-percent/</link>
                    <pubDate>Mon, 03 Apr 2023 11:13:02 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[María Prados]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Economy]]>
                            </category>
                                                    <category>
                                <![CDATA[Financial system]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=996680</guid>
                                            <description>
                            <![CDATA[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).]]>
                        </description>
                        <content:encoded>
                            <![CDATA[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).]]>
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                    <title>BBVA's tax contribution in 2020: €8.33 billion worldwide</title>
                    <link>https://www.bbva.com/en/bbvas-tax-contribution-in-2020-e8-33-billion-worldwide/</link>
                    <pubDate>Mon, 26 Apr 2021 15:11:08 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Carmen Álvarez]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                    <category>
                                <![CDATA[Taxes]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=830634</guid>
                                            <description>
                            <![CDATA[Just as every year since 2012, BBVA has voluntarily released its <a href="https://shareholdersandinvestors.bbva.com/wp-content/uploads/2021/04/Informe-Contribuci%C3%B3n-Fiscal-Global-2020_ENG.pdf" target="_blank" rel="noopener noreferrer">Global Tax Contribution report</a>. In 2020, the Group carried out an additional exercise of transparency including, for the first time ever, non-financial public information in standard <a href="https://www.globalreporting.org/media/sfcpcrt4/gri-207-tax-standard-2019-factsheet.pdf?id=1616" target="_blank" rel="noopener noreferrer">GRI 207</a>. 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.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[Just as every year since 2012, BBVA has voluntarily released its <a href="https://shareholdersandinvestors.bbva.com/wp-content/uploads/2021/04/Informe-Contribuci%C3%B3n-Fiscal-Global-2020_ENG.pdf" target="_blank" rel="noopener noreferrer">Global Tax Contribution report</a>. In 2020, the Group carried out an additional exercise of transparency including, for the first time ever, non-financial public information in standard <a href="https://www.globalreporting.org/media/sfcpcrt4/gri-207-tax-standard-2019-factsheet.pdf?id=1616" target="_blank" rel="noopener noreferrer">GRI 207</a>. 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.]]>
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                    <title>BBVA stands out in the Ibex35 for its fiscal transparency</title>
                    <link>https://www.bbva.com/en/bbva-stands-out-in-the-ibex35-for-its-fiscal-transparency/</link>
                    <pubDate>Wed, 02 Dec 2020 01:45:22 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Carmen Álvarez]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                    <category>
                                <![CDATA[Taxes]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/bbva-destaca-en-el-ibex35-por-su-transparencia-fiscal/</guid>
                                            <description>
                            <![CDATA[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<a href="https://accionistaseinversores.bbva.com/wp-content/uploads/2020/03/Contribucion-fiscal-global-2019_esp.pdf" target="_blank" rel="noopener noreferrer"><strong> report. </strong></a>]]>
                        </description>
                        <content:encoded>
                            <![CDATA[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<a href="https://accionistaseinversores.bbva.com/wp-content/uploads/2020/03/Contribucion-fiscal-global-2019_esp.pdf" target="_blank" rel="noopener noreferrer"><strong> report. </strong></a>]]>
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                    <title>BBVA, a European leader in tax transparency</title>
                    <link>https://www.bbva.com/en/bbva-a-european-leader-in-tax-transparency/</link>
                    <pubDate>Tue, 17 Dec 2019 01:20:04 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Carmen Álvarez]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                    <category>
                                <![CDATA[Taxes]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=713635</guid>
                                            <description>
                            <![CDATA[BBVA has participated in preparing the ‘<a href="https://ebtforum.org/ttc/?WT.mc_id=CT1-PL52-DM2-TR3-LS1-ND40-TTA9-CN_TotalTaxContribution-" target="_blank" rel="noopener">Total tax contribution</a>’ report, which analyzes tax contributions made last year by major European companies. The study, conducted by the <a href="https://ebtforum.org/" target="_blank" rel="noopener">European Business Tax Forum</a> (EBTF), discloses the tax contributions made by large corporations and thus contributes to the promotion of transparency.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA has participated in preparing the ‘<a href="https://ebtforum.org/ttc/?WT.mc_id=CT1-PL52-DM2-TR3-LS1-ND40-TTA9-CN_TotalTaxContribution-" target="_blank" rel="noopener">Total tax contribution</a>’ report, which analyzes tax contributions made last year by major European companies. The study, conducted by the <a href="https://ebtforum.org/" target="_blank" rel="noopener">European Business Tax Forum</a> (EBTF), discloses the tax contributions made by large corporations and thus contributes to the promotion of transparency.]]>
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                    <title>BBVA, leading financial institution in fiscal transparency in Spain</title>
                    <link>https://www.bbva.com/en/bbva-leading-financial-institution-in-fiscal-transparency-in-spain/</link>
                    <pubDate>Tue, 25 Jun 2019 22:44:18 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Ana Cabirta]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Financial system]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                    <category>
                                <![CDATA[Transparency]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=654005</guid>
                                            <description>
                            <![CDATA[BBVA is Spain’s most transparent financial institution, according to '<a href="https://www.compromisoytransparencia.com/informes/contribucion-y-transparencia-2018-informe-de-responsabilidad-fiscal-del-ibex-35-y-contribucion-de-las-multinacionales-en-espana" target="_blank" rel="noopener">Contribution and Transparency 2018</a>', a report published by Fundación Compromiso y Transparencia (Commitment and Transparency Foundation). In the benchmark report, which lists all IBEX 35 companies according to their fiscal transparency practices, BBVA takes the fourth spot.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA is Spain’s most transparent financial institution, according to '<a href="https://www.compromisoytransparencia.com/informes/contribucion-y-transparencia-2018-informe-de-responsabilidad-fiscal-del-ibex-35-y-contribucion-de-las-multinacionales-en-espana" target="_blank" rel="noopener">Contribution and Transparency 2018</a>', a report published by Fundación Compromiso y Transparencia (Commitment and Transparency Foundation). In the benchmark report, which lists all IBEX 35 companies according to their fiscal transparency practices, BBVA takes the fourth spot.]]>
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                    <title>José María Vallejo named best tax director in Europe in 2018</title>
                    <link>https://www.bbva.com/en/jose-maria-vallejo-named-best-tax-director-in-europe-in-2018/</link>
                    <pubDate>Fri, 17 May 2019 13:36:25 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Carmen Álvarez]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Awards]]>
                            </category>
                                                    <category>
                                <![CDATA[Banking]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=642264</guid>
                                            <description>
                            <![CDATA[BBVA received two awards from the specialist publication, ‘<a href="https://www.internationaltaxreview.com/default.aspx" target="_blank" rel="noopener">International Tax Review</a>’ this Thursday in London. First, José María Vallejo was recognized as the best in-house tax director in Europe in 2018; and second, the BBVA tax team was acknowledged for its contribution to one of the most notable corporate deals of the year: <a href="https://www.bbva.com/es/bbva-cierra-la-venta-de-su-negocio-inmobiliario-en-espana-a-cerberus/">the transfer of the bank's property business in Spain to Cerberus.</a>]]>
                        </description>
                        <content:encoded>
                            <![CDATA[BBVA received two awards from the specialist publication, ‘<a href="https://www.internationaltaxreview.com/default.aspx" target="_blank" rel="noopener">International Tax Review</a>’ this Thursday in London. First, José María Vallejo was recognized as the best in-house tax director in Europe in 2018; and second, the BBVA tax team was acknowledged for its contribution to one of the most notable corporate deals of the year: <a href="https://www.bbva.com/es/bbva-cierra-la-venta-de-su-negocio-inmobiliario-en-espana-a-cerberus/">the transfer of the bank's property business in Spain to Cerberus.</a>]]>
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                    <title>BBVA, recognized for its best practices in taxes</title>
                    <link>https://www.bbva.com/en/bbva-recognized-for-its-best-practices-in-taxes/</link>
                    <pubDate>Tue, 26 Mar 2019 01:23:01 +0000</pubDate>
                    <dc:creator>
                        <![CDATA[Blanca González del Fresno]]>
                    </dc:creator>
                                                                        <category>
                                <![CDATA[Sustainable Development Goals]]>
                            </category>
                                                    <category>
                                <![CDATA[Tax system]]>
                            </category>
                                                    <category>
                                <![CDATA[Taxes]]>
                            </category>
                                                                <guid isPermaLink="false">https://www.bbva.com/?p=629290</guid>
                                            <description>
                            <![CDATA[<a href="https://www.csreurope.org/" target="_blank" rel="noopener">CSR Europe</a> and <a href="https://www.pwc.es/" target="_blank" rel="noopener">PWC</a> 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.]]>
                        </description>
                        <content:encoded>
                            <![CDATA[<a href="https://www.csreurope.org/" target="_blank" rel="noopener">CSR Europe</a> and <a href="https://www.pwc.es/" target="_blank" rel="noopener">PWC</a> 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.]]>
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