sustainability report 2015 - · pdf file2015 sustainability report 50 community investment ......

Community investment2015 SUSTAINABILITY REPORT

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Community investmentAt Banco Santander we also contribute to economic and social development through initiatives and programmes that support the community.

Europe Scholarships ceremony, Santander Group City.

The main focus of the Bank's activity and one of its hallmarks is investment in higher education. Long-standing strategic partnerships with universi-ties around the world are forged through Santand-er Universities. This alliance has resulted in over 1,200 cooperation agreements between Santander and universities in 21 countries, benefiting 25 mil-lion students and teaching staff.

Added to this is the investment in numerous pro-grammes implemented to support the community in countries where Santander operates. In many of these projects the Bank encourages Group employees to get involved as a way of promoting solidarity, motivation and pride in working for Santander. This helps bring them closer to and forge stronger ties with the communities they serve. These programmes promote education, en-trepreneurship and social welfare.

In 2015, Santander allocated €207 millionto social investment €160 million of which was in-vested in the area of higher education, notably the over 35,000 scholarships and grants for students and lecturers, among other initiatives.

The Bank invested €47 million in community sup-port. Santander also develops several products and services with a considerable social component, such as microcredits. In the past year, the Bank, with the collaboration of its employees and cus-tomers, helped 1.2 million people with its products and community support programmes.

Santander supports the promotion of art and cul-ture. In 2015, 1 million people enjoyed exhibitions, concerts and other cultural activities promoted by the Bank.

Scholarships/grants objectives, 2016-2018Hit the target of 130,000 scholarships/grants to students and university staff in 2016-2018.

Hit the target of 4.5 million people helpedin 2016-2018.

Peple helped objective


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Main 2015 figures

207million

social investment

35,349university scholarships

and grants awarded

1.2million people helped

in the community

Changes in community investment€ million

207 Universities Other initiatives 170

182

52

187

45

187

4147

61 718 2053 51

84

26

58

92

2666

106

29

77

119

30

89

126

43

83

125

37

88

148

48

100

53

117130 142

146160

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Breakdown of investment and people helped by area of action in 2015

542,621people helped with child and financial

education

246,051people helped through social

entrepreneurship and job creation

429,436people helped through social

welfare programmes

3,116people helped through

environmental-protection initiatives

Measurement methodology for people helped by Santander’s programmes

In order to measure, assess and improve the Bank’s contribution to society through its community investment programmes and products with greater social and environmental added value, a project to measure people helped was launched in 2015. To carry this out, the Bank has designed a corporate methodology tailored to Santander's requirements and specific model for contributing to society. This methodology sets out a series of principles, definitions and criteria

that can be used to consistently count those individuals who have benefited from the Bank's community support programmes, services and products with a social and/or environmental component promoted by the Bank in collaboration with employees and customers. It covers community investment initiatives and products and/or services that benefit people in Banco Santander's largest countries. Community investments include donations, employee time, and

benefits in kind. Any programmes that do not benefit specific individuals are excluded from the measurement (e.g. restoration of cultural heritage, reforestation of natural spaces, etc.). The Santander Universities higher education programmes are covered by other indicators.


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Students from Yale NUS College (Singapore), beneficiaries of the Santander scholarship programme.

160million to universities

Education

Santander UniversitiesBanco Santander's social commitment is epit-omised by its investments in higher education through Santander Universities.

Banco Santander has firmly established itself as an institution that is committed to social develop-ment and progress through academia having en-tered into 1,229 agreements with universities and other academic institutions in 21 countries and is the world’s largest investor in education according to a report by the Varkey Foundation in partner-ship with UNESCO.

Banco Santander supports 3,900 projects to im-prove education, and aids universities in growing internationally. It helps students and teaching staff to travel, facilitates students' transition into the workplace, encourages an entrepreneurial culture, research and innovation.

The main action taken in 2015 included the schol-arships and grants programme for students and university staff, entrepreneurial training, and sup-port for research and innovation.

Scholarship programmesSantander runs the largest scholarship pro-gramme financed by a private company in the world. It has awarded 35,349 scholarships through the programme, as follows:

• 15,553 university mobility scholarships.

• 7,536 study grants.

• 10,865 Santander grants for internships in Argen-tina, Brazil, Chile, Mexico, Peru, Poland, Portugal, Spain, UK and USA.

• 1,395 awards for excellence, research, innovation and entrepreneurship.

1,229agreements with universities and other academic institutions in 21 countries

3,900projects with universities

Santander Universities. Strategic Priorities 2016-2018

Innovation and enterprise: the promotion of entrepreneurial culture and university innovation will be fundamental in the collaboration with universities.

University digitalisation: promoting the digitalisation and modernisation of universities will be another of Santander's priorities in its support of education, with pro-jects for the incorporation of new technologies into teach-ing, virtual campuses and the creation of digital academic university services.

Internationalisation: travel scholarships, exchange programmes and the promotion of collaborative projects between universities in various countries.

Employability: initiatives to help university students to enter the labour market, with scholarship programmes for work experience and initiatives for training in professional competencies, in collaboration with the universities.

Organisation of the IV International Chancellors' Conference in Salamanca in 2018 with the participation of over 1,000 universities.


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World's largest private scholarship scheme

AsiaAgreements with universities 25Grants/scholarships 1,540

Continental EuropeAgreements with universities 241Grants/scholarships 15,849

United KingdomAgreements with universities 80Grants/scholarships 6,640

United States1Agreements with universities 54Grants/scholarships 2,012

Latin AmericaAgreements with universities 828Grants/scholarships 9,308

Banco Santander is the world's largest investor in education, according to a report by the Varkey Foundation in partnership with UNESCO.

1. Includes Puerto Rico.* A university agreement has also

been drawn up in Ghana. 35,349 scholarshipsand aid awarded

Scholarships by countryUnits

Spain 12,559

Portugal 842

United Kingdom 6,640

Germany 130

Poland 2,315

Russia 114

Brazil 3,071

Mexico 3,547

Chile 440

Argentina 1,885

Puerto Rico 75

Colombia 155

United States 1,937

China 1,096

Singapore 297

Other countries* 246

Total 35,349

* Uruguay, Qatar, Belgium and Peru.

Main scholarship programmes

Some of the main grant programmes promoted by the Bank:

Santander internship scholarships at SMEs are designed to complement university education and facilitate labour market integration in Argentina, Mexico, Spain, Portugal and UK.

Top China-Chile, Top China-Brazil, Top Brazil-Spain and Top China-Mexico are three-month programmes designed to foster the internationalisation of universities, academic cooperation and cultural immersion through meetings with and visits from university deans, professors and researchers.

Ibero-American Scholarships. In 2015, Santander Universities improved mobility between undergraduate and young university teachers and researchers from 9 countries. Elsewhere, the Portuguese-

Brazilian project fosters cultural and knowledge exchange through 6-month stays.

Banco Santander was the first company to join the Alliance for Latin American Academic Mobility, an initiative of the Ibero-American General Secretariat (SEGIB) to promote mobility among students, teachers and researchers in Latin American countries. The initiative aims to expand the knowledge of at least 200,000 people in other countries by 2020.

Specialised training programmes, such as those carried out at Babson College, for entrepreneurs from different countries. Also noteworthy are the the W50 and W30 programmes at the University of California, Los Angeles (UCLA) designed to promote excellence and leadership among women from all over the world.


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Internationalisation Day, Portugal.

Research and innovation The Bank supports Research and innovation with an annual investment of €24 million. In 2015, support has been provided to teams conducting research on cancer, stem cells, biomaterials, pro-tection of endangered species, digital innovation and transformation, along with science parks and university chairs of excellence. Part of this invest-ment is allocated through the Santander Univer-sities Awards for innovation in Brazil, Mexico, the United States and Puerto Rico; and the University Scientific Research Award in Chile, among others. Funds are also channelled through initiatives such as the ComFuturo programme (Spanish National Research Council, CSIC), which encourages talent to stay in Spain by providing financial assistance to highly-qualified young scientists.

Entrepreneurship in universitiesSantander Universities promotes university entre-preneurship programmes such as YUZZ Jóvenes con ideas (Young people with ideas), directed by the Santander International Entrepreneurship Cen-tre (CISE in Spanish). Now in its sixth year, it has provided support and training for more than 900 young people, who have presented 710 business projects in 41 high-performance centres through-out Spain. The initiatives developed by RedEm-prendia also stand out, such as the SOLA project (Spin-Off Lean Acceleration in Spain and Brazil), and the Santander Universities awards for entre-preneurship in Brazil, which had a record number of applications in 2015: almost 24,000 projects

submitted by university students from all over the country. These awards are also given in Argentina, Chile, Spain, Portugal and the United Kingdom.

Moreover, with the Santander grants for work ex-perience, the Bank promotes the creation of jobs for young graduates. It is known that 45% of those receiving grants in Spain continued working in the companies.

New technologiesBanco Santander supports the digitalisation and modernisation of universities with projects that incorporate new technologies, virtual campuses and different digital university services.

The Student Smart Card (TUI in Spanish), designed by the Bank in collaboration with universities, offers the university community more than 50 academic and technological services. A total of 308 universities from 11 different countries have benefited from this value-added service.

Promoting the Spanish languageBanco Santander supports the teaching of the Spanish language by promoting projects such as the Miguel de Cervantes Virtual Library and training programmes in Spanish for lecturers and students in various countries. The Cervantes Institute, in collaboration with the Bank and cer-tain Spanish universities, has launched similar projects in universities in Russia, North America and China.

24million earmarked for research and innovation

8.9million university smart cards (USCs) active

7,251entrepreneurs and

525university start-ups supported in 2015


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Welcome Day for foreign students, Madrid.

UniversiaUniversia is the world's largest university network, formed by 1,401 universities representing 19.2 million university teachers and students in Latin America. Universia's work revolves around a key priority: the management and promotion of em-ployment programmes which help students access the job market. The partnership with Trabajando.com has enabled around one million people to find work in 2015 (estimated at 40% of the total vacan-cies published in 2015).

Moreover, given current technology and the aim of forging ever closer ties with university students, Universia promotes the digital service offering. The value of Universia services is demonstrated by the 7.4 million unique visitors registered with the websites and 1.3 million social network followers. The objective in 2016 is to reinforce the digital strategy, which must further connect student needs and the range of products and services Uni-versia promotes for them.

Academic projects, such as MiriadaX, developed jointly with Telefónica, 328 courses since 2013, and Innoversia, with over 10,000 researchers registered, contribute to the spreading of knowledge, and the research carried out in Latin American universities.

Universia FoundationThe Universia Foundation promotes the integra-tion of people with disabilities in universities, and their subsequent inclusion in the labour market.

Through its Employment Programme, in 2015 the Universia Foundation facilitated access to work experience for 60 disabled university students. The Foundation's Placement Service has also been strengthened and 84 people with disabilities have been found work during the year. A total of 45 dis-abled entrepreneurs have received advice and aid in setting up 14 different businesses.

As part of the Equal Opportunities Programme, a total of 212 people were awarded grants in the ninth edition of the Universia Capacitas Founda-tion programme.

Scholarships are offered to train doctors with disabilities, in addition to grants to study masters’ degrees at various business schools. Further, the Assistance Products Bank has lent 1,926 devices to help improve the autonomy and accessibility of university students with disabilities since it was launched.

At an international level, the Universia Foundation played an active role in the Day of General Dis-cussion (DGD) on education held at UN’s Palais des Nations in Geneva in 2015 and organised by the UN Committee on the Rights of Persons with Disabilities. It also maintains a commitment to developing an open exchange of good practices space among Latin American universities.

1million jobs brokered through the Employment Community in 2015, and 2.5 million vacancies published

* Estimated at 40% of total vacan-cies published in 2015.

Direct impact of Universia Foundation actions

4,159disabled persons.

Access Universia.

Access Universia Foundation.

http://www.fundacionuniversia.net/

http://www.universia.net/en/

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Financial educationBanco Santander pays special attention to finan-cial education, with the aim of contributing to the education of people about their personal finances. In collaboration with other organisations, the Bank runs various local programmes to instil in children the importance of saving, to prepare young people embarking on an independent life and to assist families when making basic decisions such as buying a home, preparing the family budget or getting ready for retirement. The corpo-rate volunteer programme and its value proposal in relation to the company are based on financial education initiatives.

Sanodelucas website, Chile.

Flagship financial education initiatives

Germany In Germany, the Bank maintains relationships with schools through lectures on banking issues, providing informational events for graduates and advice about seeking employ-ment. It also participates in programmes such as Boss for a day, in which the chosen students can learn everything about a bank from the management point of view.

Argentina Santander Rio supports small enterprises by providing financial education training. Pymes en Transformación (SMEs in transformation) is run in collaboration with several universities, companies and the State. The Construyamos Nuestros Sueños (Building our dreams) learning platform also provides young people with tools giving them the opportunity to play a part in local business activities.

Brazil Santander Brazil incorporates financial education into most of its social action pro-grammes through social networks, interactive platforms, tools, and classroom-based and online courses. This complements programmes such as Microcréditos or Amigo de Valor (Valuable friend) by providing basic financial training.

Chile The Sanodelucas website is designed to answer questions about banking products and servicesby providing easy-to-find, clear and understandable information. The Sanodelucas PYME website was launched in 2014 and in 2015 the financial education offering was enhanced with games, a blog and events.

Spain Finanzas para Mortales (Finance for all) endeavours to make economic concepts more understandable through a website offering courses, explanatory videos and tutorials. The Bank also works with Junior Achievement and the Spanish Banking Association (AEB) on the Tus finanzas, tu futuro (Your finances, your future) project aimed at nurtur-ing a culture of finance among secondary school pupils.

Mexico Santander Mexico focuses the majority of its financial education initiatives on uni-versity students. One of the most significant is the University Financial Education Tour, talks by experts in Financial Education in 20 universities with which Santander Mexico collaborates. The lectures are given to students and teaching and administrative staff from the institution.

Poland Bank Zachodni WBK runs its main financial education initiatives through games for different members of the public. Simulations are run for participants to find out the consequences of their decisions. The most notable games are The Digital University, BZ-Business Zone, Your Family Budget and Leaders of Europe.

Portugal Santander Totta works with Junior Achievement to host financial education talks by volunteers from the Bank. The Boas Práticas, Boas Contas (Best practices, best accounts) portal was set up under the National Financial Education Plan with the Bank's support to provide citizens with useful information to help their plan their day-to-day finances.

UK Through the Santander MoneyWise programme, more than 11,700 students attended financial education workshops run by Bank employees in 2015. Elsewhere, through a partnership with the Personal Finance Education Group (PFEG), 40 secondary schools were transformed into centres of excellence in 2015 to run financial education course.

people helped through financial education programmes

businesses partaking in training, workshops and masterclasses in finance

136,267

27,760

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Childhood educationIn line with the new United Nation’s Sustainable Development Goals, Banco Santander promotes local initiatives to support childhood education.

Its activities are centred above all on Latin America, where the Bank has for years cooperated in projects that support and reinforce the different education programs of each country.

In 2015, over 400,000 children benefited from the programme promoted by the Bank.

Santander Mexico childhood education programme.

Flagship childhood education initiatives

Argentina School scholarships. To prevent the academic failure of students from poor families. A total of 222 scholarships were awarded in 2015.

Brazil Since 2011, the Bank has participated with the Ministry for Education in Brazil on the Ed-ucação Infantil programme to improve the quality of teaching at state-run nurseries and schools.

The Todos pela Educação (Education for all) pledge is a movement in Brazilian society whose mission is to play a part in ensuring every child receives a quality basic education by 2022. Banco Santander has supported this initiative since 2011.

Chile Belén Educa Foundation. Conference, internships and scholarships programme in support of excellence in education for young underprivileged children. In 2015, scholarships were offered and seven academic excellence grants were awarded to young people who stood out for their academic performance, commitment and responsibility. In total, this pro-gramme allowed 13,790 young people to receive assistance.

Mexico Bécalos. Initiative for the promotion of education by scholarships to students and teachers from state schools. In 2015, 1,880 people were aided as a result of the collections made at the cash desks.

Todos los Niños a la Escuela (All kids to school programme). To promote access to education in collaboration with Unicef. Contributions from customers benefited 4,030 children in 2015.

Poland Banco Santander backs through its foundation in Poland the Bank of Children Smiles scholarship programme. The goal is to support the development and education of chil-dren from poor families. 63 scholarships were awarded to social organisations, allowing them to help 878 children.

Portugal Santander Totta is a founding member of the CEBI Foundation, the mission of which is to promote learning among more than 1,800 students and tackle social exclusion.

children helped through childhood education programmes

404,952

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Entrepreneurship and job creation

Banco Santander also promotes entrepreneurship through initiatives and programmes that support the community.

MicrocreditMicrocredits allow the most underprivileged groups to have access to borrowing with the aim of improving their social inclusion, living standards and local area.

• Santander Microcréditos Brazil Banco Santander is recognised as the leading provi-

der of microcredits among the private banks in Bra-zil. Santander Microcréditos is active in São Paulo, Rio de Janeiro and the north-east of the country. These loans promote the growth of businesses, helping the underprivileged escape from poverty.

• Microfinance in Chile Santander Chile is a leader in the local microfinance

market, with nearly 70 thousand active customers. The scheme supports microenterprises with limited capital. The average loan is €2,700 and has a term of 24 months.

• Servicios Financieros ENLACE (El Salvador) Santander is the main shareholder of ENLACE, which

focuses on microenterprises unable to access formal banking services. The average loan is €400, while 85% of customers are women.

In Argentina, the Bank also collaborates with various microcredit institutions associated with the Argentine Network of Microfinance Institutions (RADIM).

Other social entrepreneurship initiativesThe Bank runs a number of entrepreneurship pro-grammes to help the most disadvantaged groups.

• United Kindgom. Social Enterprise Development Awards (SEDA). These awards recognise the work of companies that aim to promote social inclusion, boost employment or contribute to protecting the environment, and whose profits are reinvested in the company or donated to the community.

• Brazil. Partners in action. Training and support programme designed to empower people with limited incomes.

253,882micro-entrepreneurs supported

SANTANDER MICROCRÉDITOS BRAZIL

Santander Microcréditos Brazil has 26 customer service offices and a team of around 200 microcredit agents serving more than 600 municipalities in 13 states. Nearly 70% goes to female entrepreneurs working in groups of 5-6 people. The average loan is €700 and the average term is 8.7 months. At the end of 2015, the Bank had a loan book of 139 thousand customers.

Access for further information.

https://sustentabilidade.santander.com.br/en/Paginas/default.aspx

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Welfare

The Bank works with NGOs and other institutions to run numerous community support initiatives to enhance people's quality of life and meet their needs. Many of these initiatives are conducted in collaboration with the Bank's customers and staff.

The main focus of this work is to tackle social exclusion by backing programmes that deal with poverty, vulnerability and the marginalisation of people in the various countries in which the Bank operates.

Other programmes involve preventing disease and promoting health. The research and support programmes for medical treatments are most noteworthy in this regard.

Welfare programmes are also run concerning dis-ability, which specialise in helping disabled people and their families, facilitating their social inclusion and their rehabilitation.

In 2015 over 400,000 people were helped through these projects. Many of these initiatives are con-ducted in collaboration with the Bank's customers and staff.

The Bank has also embarked on new projects for the coming years, such as the Discovery Project in the UK. This project will provide communities with the necessary knowledge and skills to enable peo-ple to achieve their goals through three main lines: exploration, transformation and support of social innovation projects to help communities. 1 million people will be helped until 2020.

Outstanding initiatives

In Spain, Poland and the UK, the Bank implements specific programmes such as Community Plus, Here I live, here I make changes and Santander Ayuda, which offer small grants of €5,000-€10.000 to social institutions which promote the welfare of their communities.

In Brazil, Chile, Spain, Mexico and the UK, the Bank also promotes various fundraising programmes with staff and customers, with the aim of supporting the most disadvantaged sectors of society. Amigo de Valor in Brazil, Mexico's Fideicomiso por los niños (Children's Trust), the Convocatoria de proyectos sociales (Call for social projects) in Spain, and the Matched donation Scheme in the UK, are some of the most significant programmes. In all these programmes, the Bank adds to the funds raised. In 2015, these programmes helped the work of more than 120 social institutions and organisations.

In addition, through the various on-site voluntary initiatives promoted by the Bank, Group employees collaborated with more than 340 social bodies in 2015.

384,898people helped through programmes designed to tackle social exclusion

38,799people helped through health and disease research programmes

5,739people with disabilities helped through rehabilitation programmes

Closing ceremony of the seventh edition of the Euros from your payroll social project programme.

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Art and culture

Another of Banco Santander's main vocations is to protect, preserve and provide access to art and culture, investing €16 million in 2015. The Banco Santander Foundation in Spain and Santander Cul-tural in Brazil lead the Group's cultural investment drive.

Banco Santander FoundationThe Banco Santander Foundation works in the fields of art, education and young talent, literature, science and the environment and seeks to con-tribute to the social and cultural progress of the communities in which the Bank is present.

As well as being responsible for managing the Banco Santander Collection, the Foundation hosts exhibitions in the Santander Art Gallery, visited by over 12,000 people in 2015. It also collaborates with various prestigious institutions to organise exhibitions, educational initiatives and support programmes for collections.

In the area of music, the Foundation works with renowned institutions such as the Teatro Real in Madrid and the Gran Teatro del Liceu of Barcelona. It also organises conferences and discussions on history, patrimony and science, in addition to an important editorial activity, especially in the field of literature with the prestigious Obra Fundamen-tal collection.

Banco Santander Foundation carries out another interesting initiative: the Emplea Cultura ( job and culture programme). The aim of this programme is to promote job creation among young people and enhance the growth of culture-based companies.

Lastly, Banco Santander Foundation plays an envi-ronmental role through its programme to restore natural heritage spaces and protect endangered animals.

Santander CulturalThe Santander Cultural Institute located in Porto Alegre in the state of Rio Grande do Sur, Brazil, of-fers programmes in the visual arts, culture, music, education and cinema, and debates. Cultural activ-ities are developed in collaboration with universi-ties, governments, NGOs, and other institutions.

Throughout the year it hosted various activities such as festivals, forums, exhibitions, workshops and courses. Santander Cultural also runs a Cultur-al Telecentre, a library that is open to the public, specialising in art, architecture, fashion and pho-tography. It also boasts a cafeteria, restaurant and bookshop.

Further, Santander Brazil continues to invest in the Museu do Amanha project in Rio de Janeiro, visited by 98,000 people in 2015.

Bank Zachodni WBK FoundationIn Poland, the Zachodni WBK Foundation is one of the largest backers of arts in the country. Cooper-ation with the National Fryderyk Chopin Institute on the piano competition and various concerts, and the new Santander Orchestra project rank among projects that promote classical music and engage young people.

1million people benefited from the cultural initiatives developed by the Bank

Other key cultural initiatives

Brazil Sao Paulo Municipal Theatre. Offering opera, ballets and a variety of music concerts promoting Brazilian and international culture.

Amanha Museum. Building designed by the Spaniard, Santiago Calatrava, in Porto Maravilha, Rio de Janeiro, dedicated to reflecting on how to achieve a more sustainable world in the future.

AfroReggae. This ONG seeks to promote social inclusion through Afro-Brazilian art and culture.

Poland Santander Orchestra (1st season). Advanced musical training for young people.

Music festivals and piano competitions in collaboration with the National Fryderyk Chopin Institute.

5 senses eMotion (5th year). The Cultura sin Barreras [Culture without barriers] programme to bring the arts to people with disabilities.

BZ WBK Press Photo 2015 (11th edition). World famous awards for the best professional press photographs.

Portugal Concerts to put Portuguese culture in the spotlight held at the Casa de la Música and the Gulbenkian Foundation.

Chile Santander and culture. Website showcasing the main art projects supported by the Bank.

Sponsorship of concerts such as the Nutcracker ballet and Mozart's Requiem.

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Tax contribution

The Santander Group contributes economically and socially to the countries in which it operates by paying all direct taxes (own taxes1) and with-holding indirect taxes from third parties, collab-orating fully with the local tax authorities (taxes from third party2).

This puts total taxes raised and paid by the Santander Group in 2015 at €16,122 million, of which €5,840 million correspond to own taxes with the remainder being taxes raised from third parties. This means that for every €100 of gross profit raised by the Group, €35 correspond to tax-es paid and collected, as follows:

• €22 for the payment of taxes raised from third parties.

• €13 for own taxes paid directly by the Group.

In the case of own taxes, this figure would rise to €61 for each €100 if profit before tax is used instead of gross profits, and would be €44 if it were adjusted for own taxes excluding net tax payments.

The taxes included in each year’s income state-ment are largely income tax accrued in the period (see page 12 of the auditor’s report and annual accounts), non-recoverable VAT, employer social security contributions, and other levies paid, regardless of the date these are paid, while taxes paid are included in the cash flow statement.

These figures usually differ as each country’s tax regulations stipulate when taxes should be paid. The payment date therefore normally varies slightly from the date the income is generated or the transaction is taxed.

Those countries where taxes are highest are juris-dictions where the most income is generated.

€ million

Own taxes

JurisdictionCorporate

income taxOther own taxes paid

Total own taxes paid

Third-party taxes

Total contribution

Spain 69 979 1,048 1,409 2,457

United Kingdom 582 522 1,104 538 1,642

Portugal 72 114 186 262 448

Poland 251 68 318 133 451

Germany 140 36 176 183 359

Rest of Europe 299 559 857 71 928

Total Europe 1,412 2,278 3,690 2,596 6,286

Brazil 361 573 933 2,490 3,423

Mexico 86 203 289 452 742

Chile 166 55 221 257 479

Argentina 202 339 541 3,583 4,124

Uruguay 18 65 82 31 113

Rest of Latin America 9 3 12 4 16

Total Latin America 842 1,237 2,079 6,817 8,896

United States -96 104 9 855 863

Other 47 16 63 14 77

Total 2,205 3,635 5,840 10,282 16,122

1. Includes net tax payments, non-recoverable VAT and other indirect taxes, social security payments made by the employer and other payroll taxes and other taxes and levies.2. Includes net payments for salary withholdings and employee social security contributions, recoverable VAT, tax deducted at source on capital, tax on non-residents and

other taxes.

sustainability report 2015 - · pdf file2015 sustainability report 50 community investment ......

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