We strongly believe that tax transparency is another important dimension of sustainable finance.
Disclosure of our tax strategy and the details of our tax contribution in Chile underlines the importance that we give to tax issues, to its social role and, in general, to transparency as a factor that encourages sustainable development, being the tax impact reported at risk management level as well as at performances level in the financial report and in a dedicated public document represented by the Total Tax Contribution that express the total impact in the Chilean society
Our approach to taxes
Tax strategy objectives and principlesl Enel Chile’s Board of Directors approved the Group's tax strategy, with the objective of ensuring that taxation is managed in a uniform way across all Company subsidiaries. Its objectives are:
- To determine and liquidate taxes due in a correct and timely way, in accordance with the law and complying with corresponding obligations.
- Manage tax risk, which is understood as the risk of incurring in any violation of tax regulations or abuse of the principles and purposes of the tax system.
In turn, the strategy outlines the following principles as guidelines for Enel Chile and the different subsidiaries of the Group, to support their business activity and keep it consistent with the fiscal variable, adopting the appropriate processes to ensure their effectiveness and application:
- Values: The Company's tax management is aligned with the values of honesty and integrity, as the Company is aware that tax revenues are one of the main sources of contribution to the economic and social development of the countries in which it operates.
- Legality: The Company pursues a behavior oriented towards compliance with applicable tax regulations and is committed to interpreting them with respect to both form and substance.
- Tone at the top: The Board of Directors has the responsibility to lead a corporate culture based on the values of honesty and integrity, and the principle of legality.
- Transparency: Maintains collaborative and transparent relations with the tax authorities.
- Shareholder value: Considers tax to be a business cost and, as such, believes that it should be managed in accordance with the principle of legality, with the objective of safeguarding the Group's assets and pursuing the overriding interest of creating value for shareholders in the medium and long term.
Enel Chile must respect the principle of legality, promptly applying tax laws to ensure that the applicable tax regulation or regime is fully respected.
Likewise, Enel Chile does not engage in national or cross-border conducts or operations that result in purely artificial constructions that do not reflect the economic reality and from which it obtains undue tax advantages, coming in conflict with the purpose or spirit of the tax provisions or system in question.