Ferrovial, a global infrastructure and services company, has signed the Code of Good Tax Practices, created by Spain's Tax Agency and the Forum of Big Companies. The Code seeks to reinforce transparency and cooperation in corporate tax practices and to enhance legal certainty in interpreting tax regulations. The Company's participation in this pioneering initiative is part of its commitment to transparency, legal certainty and social responsibility.
The Code of Good Tax Practices seeks to promote a cooperative relationship between the Tax Agency and the signatory companies, based on transparency and mutual trust, which will allow for implementation of the Code in line with the principles of good faith and loyalty, enhancing the effectiveness of oversight by the Tax Administration and reducing legal uncertainty and litigation. Under the Code, Ferrovial undertakes to avoid the use of tax-opaque structures and cooperate in detecting fraudulent tax practices in markets where it operates.
It also agrees to the expeditious and complete submission of any information and documentation requested by the Tax Agency. Ferrovial's annual corporate governance report will reflect compliance with the Code, for which it will establish procedures to oversee and monitor fulfillment of its tax obligations.