Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 479

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 479
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 equity method                          |     |      |    46,473 |     |      |    37,893 |
| Difference in effective tax rate on companies/permanent establishments outside Spain (*) |     |      |    30,993 |     |      |    22,678 |
| Non-deductible expenses/Deductions generated (**)                                        |     |      |    -3,071 |     |      |   -66,157 |
| Other                                                                                    |     |      |   -40,573 |     |      |   -21,021 |
| (Tax expense or (-) income related to profit from continuing                             
 operations)                                                                              |     |      |  -685,272 |     |      |  -557,175 |

(*) Calculated applying the difference between the current tax rate for the Group in Spain (30%) and the effective tax rate applied to the Group’s profit/(loss) in each jurisdiction. (**) Includes 61 million euros corresponding to the capitalisation of deductions for research & development and technological innovation activities, generated in previous years, corresponding to projects that, in all cases, are backed up by a favourable report from the Ministry of Economy and Competitiveness in accordance with recent case law in the field. It is expected that these deductions will be applied by the Group. The effective tax rate, calculated as tax expenses related to profit divided by profit or loss before tax, came to 27.26% and 29.47% in 2024 and 2023, respectively. Deferred tax assets and liabilities Under current tax and accounting regulations, certain timing differences should be taken into account when quantifying the relevant tax expense related to profit from continuing operations. In 2013, Spain made a provision (Royal Decree-Law14/2013) for tax assets generated by allowances for the impairment of loans and other assets arising from the potential insolvency of debtors not related to the relevant taxable person, as well as those corresponding to contributions or provisions in respect of social welfare schemes and, where appropriate, early retirement schemes, to be afforded the status of assets guaranteed by the Spanish State (hereinafter, “monetisable tax assets”). Monetisable tax assets can be converted into credit enforceable before the Spanish Tax Authority in cases where the taxable person incurs accounting losses or the Institution is liquidated or legally declared insolvent. Similarly, they can be exchanged for public debt securities, once the 18-yearterm has elapsed, calculated from the last day of the tax