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Spanish multinationals pay tax on 16.7% of their profits

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According to the fourth edition of the “Country by Country” report, published by the Tax Agency, around 124 multinationals invoice more than 750 million euros and pay 16.7% of their profits in corporate income tax.

Previous data

In 2018, the study only counted 122 Spanish multinationals, i. e., two more were added in 2019. Likewise, 18.3% of these paid corporate income tax.

124 large multinationals

For 2019, 66.5% of these 124 large multinationals, which totaled 14,753 subsidiaries, are located abroad. It is known that they paid €14,965 million in corporate income tax globally, which is equivalent to 16.7% of their profits, or €89,701 million.   

In terms of accrual, large Spanish multinationals paid 16,525 million, which is equivalent to 18.4% of the profit of these entities. 

23 multinational groups

The information gathered by this edition shows that 23 multinational groups, which account for 17.2% of the worldwide profit of the Spanish Country by Country group, only pay 2.6% of the Corporate Income Tax for the multinationals as a whole. 

Source: La Información 20/04/22

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