Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 560

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 560
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ability period for the Group’s deferred tax assets. Monetisable tax assets are guaranteed by the State; therefore, their recoverability does not depend on the generation of future tax benefits. As at 31 December 2023, the Group had deferred tax assets for tax loss carry-forwards pending application amounting to 39.5 million euros not recognised in the balance sheet (generated in financial years prior to the integration of their originating company into the Spanish tax group). The tax-losscarry-forwards do not need to be used before any particular date. Years subject to tax inspection As at 31 December 2023, corporation tax for the consolidated tax group in Spain was open to review for 2020 and subsequent years. In relation to value added tax (VAT) corresponding to entities forming part of the VAT group in Spain, 2016, 2017, 2020 and subsequent periods were open to review. The review of all taxes not verified and not required in accordance with the corresponding tax regulations is still pending for other Group entities that are not taxed within the consolidated tax group or the VAT group in Spain. Proceedings In January 2022, the State Agency for Tax Administration (Administración Estatal de Administración Tributaria, or AEAT) gave notice to Banco Sabadell, as the parent company of the consolidated tax group, of the commencement of verification and investigation proceedings in relation to the main taxes affecting the Group and three of its subsidiaries 1. Specifically, the items and periods listed below:

| – | Corporation Tax for the years 2015 to 2019. |

| – | Capital contribution associated with the conversion of deferred tax assets into credit eligible for the Spanish Tax 
 Authority (Capital Contribution) for the years 2016 to 2019.                                                        |

| – | Value Added Tax (VAT) for the years 2018 and 2019. |

| – | Withholdings and payments on account (employment income, income from movable capital) for the years 2018 and 2019. |

| – | Tax on deposits of credit institutions (Impuesto sobre Depósitos de las Entidades de Crédito, 
 IDEC) for the years 2017 to 2019.                                                             |

The corresponding tax assessments were signed on 30 November 2023. Details about the current status of the proceedings are given here below:

| – | Corporation Tax and Capital Contribution: the total balance due for both items amounts to 1.6 million euros