Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 387

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 387
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 Mexican tax authority (Servicio de Administración Tributaria, or SAT) gave notice to the subsidiaries Banco Sabadell, S.A. Institución de Banca Múltiple and SabCapital, S.A. de C.V. SOFOM E.R. of the commencement of verification proceedings in connection with income tax and value added tax corresponding to the year 2019, both processes of which are currently in the document submission phase. Ongoing disputes The main tax-relateddisputes that were ongoing as at 31 December 2024 are set out below:

| – | Administrative-financial claims brought before the TEAC in respect of corporation tax settlement agreements for the                                                                                                                        
 years 2015 to 2017 and 2018 to 2019, specifically related to the deduction for technological innovation, settled on the basis of application of the criterion established by Spain’s National Court (Audiencia Nacional, a division of the 
 Supreme Court) in its rulings of 23 November and 9 December 2022.                                                                                                                                                                          |

| – | Administrative-financial claim brought before the TEAC regarding the VAT settlement agreement for the years 2018 to 
 2019, in relation to certain sectoral issues.                                                                       |

| – | Appeal for judicial review before Spain’s National Court in relation to Order HFP/94/2023 of 2 February                                                                                                                               
 approving, among others, Model 797 “Temporary levy of credit institutions and financial credit establishments. Declaration of payment made” and Model 798 “Temporary levy of credit institutions and financial credit establishments. 
 Advance payment”.                                                                                                                                                                                                                     |

In addition, requests for rectification have been submitted in respect of both tax authority Model 798 “Advance payment” and Model 797 “Declaration of payment made” in relation to the temporary levy on credit institutions and financial credit establishments. These rectifications are currently at the administrative stage, in the process of administrative-financial proceedings or now form part of the verification proceedings referred to in the preceding point. The Group has made suitable provisions for any contingencies that it is thought could arise in relation to the ongoing proceedings and disputes described in this Note. In relation to items for which the statute of limitations is unexpired, due to potential differences in the interpretation of tax regulations, the results of the tax authority inspections for the years subject to review may give rise to contingent tax liabilities, which it is not possible to quantify objectively. However, the Group considers that the possibility of such liabilities materialising is remote and, if they