Ferrovial’s Total Tax Contribution came to eur2,127 million, including most notably taxes on employment (eur1,182) and tax on business activities (eur685 million). The company is guided by the principles of prudence and transparency and full cooperation with the authorities when managing its tax affairs.
In 2010, Ferrovial adhered to the Code of Good Tax Practices promoted by the Spanish Tax Agency. It follows these recommendations across all its activities worldwide through the Compliance Policy and Good Practices in Tax Matters. In February 2015, the Board of Directors approved the Ferrovial Tax Policy, thus complying with the provisions of Article 529 ter of the Spanish Corporate Enterprises Law.
Following the recommendations of the Code of Good Tax Practices, the company:
The company’s Board of Directors, acting through the Chairman, CEO and senior executives, ensures that Ferrovial adheres to good tax practices and principles. The Board is responsible for approving a control and management policy for tax risks, as well as for any operations that carry a special tax risk.
When drawing up the annual accounts, the Board is informed about the tax policies applied during the year and about the effective fulfillment of the commitments included in the Code of Good Tax Practices. This compliance is discussed and explained in the Annual Corporate Governance Report. For further information, please see section 6.6 of the Consolidated Financial Statements.
This chart shows the amounts paid by Ferrovial in 2018. They are aggregate figures based on its percentage of participation or ownership of the assets (notably 43.23% in the case of the 407 ETR, 25% for Heathrow and 55.14% at Budimex). A distinction is drawn between input taxes (obligations assumed by Ferrovial) and output taxes (arising from its activity, but actually paid by other parties).
|MARKET||CORPORATE TAXES||REST¹||COLLECTED TAXES ²||TOTAL (€)|
|Rest of Europe||€11.813.898||€8.819.612||€52.585.463||€73.218.973|
1) Includes Employment Taxes (Employer), Value Added Tax paid and Other Taxes.
2) Includes Employment Taxes (Employee), Value Added Tax collected and Withholding Taxes
3) Includes Australia and the rest of the Pacific Islands.
4) Includes United States of America, Canada, Brazil, Chile, Colombia. Mexico, Peru and Puerto Rico. 98% of the corporate tax corresponds to Canada.
*More information in notes 2.10 and 5.3 of the Consolidated Financial Statements