The definition of the tax strategy constitutes a non-delegable power of the Board of Directors.
The tax strategy of the Red Eléctrica Group was approved by the Board of Directors on June 30, 2015, and aims to define the approach to tax matters, in a manner that is consistent and aligned with the Group's strategy.
The vision of the tax strategy is summarised in the management of tax matters in a proactive, transparent and responsible manner with all stakeholders, in order to comply with tax legislation and to minimise reputational risk, making it compatible with the protection of the shareholder value.
The Code of Ethics and tax strategy of the Red Eléctrica Group set out the commitment not to create companies in territories considered as tax havens with the aim of evading taxes.
The tax strategy is based on three core values: transparency, good governance and accountability.