Capital intense activity, most of the taxes we pay are linked to crude oil production. In total we paid 759 million euros in 2016.
In Downstream there was a particularly significant tax burden in 2016: we paid 10.552 billion euros. Of particular importance are the tax on hydrocarbons, VAT, and corporation tax.
The necessary services are provided for every business across the value chain. Repsol's corporate area paid 453 million euros in tax in 2016.
At Repsol, we manage our costs and tax benefits efficiently to make sure we comply with our tax obligations without hindering the creation of value for our shareholders.This management model supports the development of our operations and business models by respecting the law in its totality, bearing in mind the global interests of the company and avoiding serious tax risks.