Statement of Support
Engagement with the EITI
Repsol has provided the data required through the EITI Standard in countries where the company has operations. It is currently part of the Guyana multi-stakeholder group (MSG) and continues to engage through information sharing and capacity building.
Repsol collaborates with tax administrations in detecting and searching for solutions to fraudulent tax practices, facilitates access to information and prioritising non-litigious means of resolving conflicts. The company aims to facilitate the application of the tax system, increase legal security and reduce litigiousness based on reciprocity in their relationships.
Repsol wants to be recognised as a company that practices integrity and transparency in its tax affairs. In February 2020, the company voluntarily started making available the following reports on Repsol's website:
Country-by-country report: This country-by-country report provides the economic data connected to Repsol's performance and a description of contextualised information about the activities performed in each jurisdiction of its business model.
Report on payments to governments on oil and gas exploration and production activities: This is a complimentary report to the previous one, fully aligned with EITI requirements. In this report, the company includes a project by project detail of all payments to the governments of the countries in which Repsol has a presence.
Self-assessment of Repsol's performance under the GRI 207 standard: Repsol has also performed an evaluation under the GRI 2017 addressing the topic of tax. In particular, disclosure 207-1 approach to tax, disclosure 207-2 tax governance, control and risk management, disclosure 207-3 stakeholder engagement and management of concerns related to tax and disclosure 207-4 country-by-country reporting.
Link to the statement of support on Repsol's website