EDP: The dam sales business was legally the “standard operation” of energy

The President of the EDP, Miguel Stilwell de Andrade, guarantees that the structure of the sale of Douro dams suspected of aggressive and abusive tax planning is a “standard operation carried out in several regions” and that was it only option for this transaction.

“There is no other way to do this,” said the chairman of the EDV at a press conference on Thursday, referring to the transfer of the concessions for the six dams and the “more than a thousand contracts” to the French consortium led by Engie. Connected to them.

This is a legally mandated operation that the company has already performed in previous situations, he assured. “We obey the law and pay all taxes, which are many. We’re not circumventing the law, ”said Miguel Stilwell de Andrade, without answering directly when asked whether EDV paid the € 110 million stamp duty for this particular operation. “We obeyed the law and paid the taxes we had to pay,” he said.

This amount has been claimed by the Terra de Miranda cultural movement, which brings together elements of civil society and accuses IT of setting up the company to avoid paying taxes.

“This is the technically correct way to carry out this transaction around the world,” said the IT manager, assuring that the company would answer the questions that the tax and customs authority (AT) would like to ask about the matter due on time.

“It is not my job to comment on the rest of the controversy,” said the manager.

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