Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 496

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 496
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 that large multinational
enterprises would be subject to a minimum tax rate of 15%.

Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum
level of taxation for multinational enterprise groups and large-scale domestic groups in the Union establishes a top-up tax through a system of two interlocked rules, together referred to as the GloBE or
Pillar Two rules, promoted by the OECD and designed to ensure that where the effective tax rate of a multinational enterprise in a given jurisdiction is below 15%, an additional top-up tax will be collected.
Member States should bring into force the laws, regulations and administrative provisions necessary to comply with this Directive. As at 31 December 2023, Spain had not approved applicable legislation in this regard, the United Kingdom being
the only material region to have passed substantial legislation in relation to the OECD’s tax reform.

The amendments to IAS 12 introduce a
mandatory temporary exception to the accounting for deferred taxes arising from jurisdictions implementing the global tax rules to ensure consistency in the financial statements while easing into the implementation of the rules. This mandatory
exception has been applied by the Group. In addition, these amendments introduce disclosure requirements to help investors better understand the exposure to income taxes arising from the Pillar Two rules before the regulations in each jurisdiction
come into effect.

An analysis was carried out based on the information available and it is estimated that the impact on the Group of the
international tax reform will not be significant.

A-335

Standards and interpretations issued by the IASB not yet in force As at 31 December 2023, the most significant standards and interpretations that have been published by the IASB but which have not been applied when preparing these consolidated annual financial statements, either because their effective date is subsequent to the date thereof or because they have not yet been endorsed by the European Union, are as follows:

| Standards and Interpretations          |     | Title                                                     |     | Mandatory for years beginning: |
| Approved for application in the EU     |     |                                                           |     |                                |
| Amendments to IFRS 16                  |     | Lease liabilities in sale and leaseback                   |     | 1 January 2024                 |
|                                        |     | transactions                                              |     |                                |
| Amendments to IAS 1                    |     | Presentation of financial statements:                     |     | 1 January 2024                 |
|                                        |     | - Classification of liabilities as current or non-current |