Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 735

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 735
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 |      |  -81,282 |

(*) 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. (**) In 2022, the corporation tax surcharge on the banking sector in the United Kingdom was reduced from 8% to 3%, which resulted in a deferred tax asset reduction of 14.8 million euros, recognised with a balancing entry in higher Corporation Tax expense. In 2021, UK corporation tax on companies was changed, from 19% to 25%, which resulted in a deferred tax asset increase of 17.9 million euros, recognised with a balancing entry in lower Corporation Tax expense. The tax rate in effect calculated as the ratio of corporation tax expense to the pre-taxprofit/(loss) amounted to 30.04% and 13.11% in 2022 and 2021, respectively. Taxable income – increases and decreases The increases and decreases in taxable income are analysed in the following table on the basis of whether they arose from temporary or permanent differences:

| Thousand euro                               |     |      |          |     |      |          |
|                                             |     | 2022 |          |     | 2021 |          |
| Permanent difference                        |     |      |  205,979 |     |      |   53,479 |
| Timing difference arising during the year   |     |      |  298,710 |     |      |  349,070 |
| Timing difference arising in previous years |     |      |   33,704 |     |      |   51,643 |
| Increases                                   |     |      |  538,393 |     |      |  454,192 |
| Permanent difference                        |     |      | -328,741 |     |      | -375,237 |
| Timing difference arising during the year   |     |      |        — |     |      |        — |
| Timing difference arising in previous years |     |      | -177,698 |     |      | -235,012 |
| Decreases                                   |     |      | -506,439 |     |      | -610,249 |

Deferred tax assets and liabilities Under current tax and accounting regulations, certain temporary 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 Dec