Spanish multinationals pay tax on 16.7% of their profits

April 21, 2022

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