«BlackRock pays in the USA. the taxes corresponding to the dividends received, in addition to the taxes on the profits generated by their activities in all s and each of the European countries, regardless of whether there are interposed companies. The firm does not pay less taxes due to the fact that dividends are paid from Europe to the US. through companies incorporated in Jersey or the Cayman Islands », Although October 2019 Calendar Excel pays the taxes that correspond to it for its billing in each region, its real turnover sometimes avoids the magnifying glass of the community haciendas. These permanent establishments act as an extension of the society on which they depend; Although its registration in the Mercantile Registry and the deposit of its annual accounts are required, most of its income goes to the parent company. In consequence, your real business is not always visible. As an example, the accounts of your branch in Spain for the year 2017: these are limited to certifying that the immediate parent has duly complied with the deposit of the same in the United Kingdom, without specifying anything about your business in our country.
October 2019 Calendar Excel
Therefore, it is impossible to know to what extent Spain is a profitable market for the largest investor of the Ibex 35. It is the accounts of BlackRock Investment Management (UK) Limited that break down -not in its entirety- the activity in each jurisdiction. The following billing information appears in this document: United Kingdom, 1,180.6 million pounds; Germany, 185.5 million; Italy, 78 million; The Netherlands, 86.7 million; France, 25.3 million; Spain, 29.3 million; and so on for each subsidiary.
However, the accounts show that 1,185.8 million pounds of the October 2019 Calendar Excel revenues of BlackRock Investment Management (UK) Limited correspond to the concept of “management fees” and specify below: “The turnover includes net commission income. of management of other group companies ». Thus, it receives income from its own companies in each country and it is in the United Kingdom where it pays taxes for them and not where they are actually generated. Regarding the taxes paid, Blackrock Investment Management (UK) Limited paid 77.5 million pounds for a profit of 564.3 million, which indicates an effective rate of 13.74% (the manager herself collects that the British legislation establishes a rate of 19%). In Spain, for a profit of almost 23 million, it paid 5.7 million, 25%.