CIE Automotive is the only company outside the IBEX 35 stock market index to apply for and obtain the Haz Foundation's 't for transparent' stamp (sello ‘t de transparente’).
The automotive components company has obtained the three-star rating, the highest category, which certifies transparency in more than 90% of the twelve indicators that analyse different good practices in the area of responsible taxation. Specifically, CIE Automotive achieved a total score of 22 out of 24 points, which corresponds to 92% compliance.
The indicators analysed include aspects such as the cooperative relationship with the tax authorities; the role of the Board of Directors in promoting and supervising good tax practices; the transparent breakdown of taxes paid and accrued in the various countries; presence in tax havens; and tax-related litigation with the authorities.
As Jesús María Herrera, CEO, described in the publication of the latest edition of its Tax Contribution Report, "CIE Automotive attaches particular importance to tax-related matters from a twofold perspective: that of being fully convinced of the need to comply with obligations by making a fair and appropriate contribution, and that of providing adequate information on the rigorous management of tax matters. This stamp is the result of the efforts made by the entire organisation".
With this achievement, CIE Automotive becomes the first non-IBEX 35 company to make an explicit commitment to fiscal responsibility, joining the twelve other companies in the index that have achieved the seal this year: Banco Sabadell, Enagás, Endesa, Iberdrola, Colonial, Redeia, Repsol, Aena, CaixaBank, Cellnex, BBVA and Acerinox.
As Javier Martín Cavanna, director of the Haz Foundation, explained last year when the stamp was launched, "although in its first edition it focused on the companies in the selective index that applied for it, our aim is to extend this initiative to other large listed and unlisted companies and other countries". The addition of CIE Automotive to the list of certified institutions demonstrates the interest of companies in having an external entity accredit their commitment to fiscal responsibility.
About Fundación Haz
The Haz Foundation (formerly Compromiso y Transparencia) was set up in 2007 by a group of professionals from the world of business, academia and the non-profit sector with the aim of strengthening society's trust in institutions and companies by promoting transparency, good governance and social commitment. Website www.hazfundacion.org.