The insurer Mapfre has rejected paying 134.2 million euros claimed by the tax authorities following an inspection. This amount is distributed across several assessments related to corporate taxes and VAT from 2017 to 2022.
Mapfre has decided not to pay the 134.2 million euros that the Tax Agency claims for various concepts following an inspection initiated in 2024. The insurer received this communication on 15 April and has signed in disagreement with the payment of 123.7 million, although it has accepted the tax authorities' criteria on another 10.5 million, which it has already paid.
The inspections carried out by the Central Delegation of Large Taxpayers cover the fiscal years 2017 to 2020 for corporate tax and 2020 to 2022 for VAT. Among the subsidiaries inspected are Mapfre Internacional, Mapfre España, and Mapfre Vida, among others.
Mapfre has submitted appeals against the claims in May, which are pending resolution by the tax authorities. The largest amounts in dispute include 83.7 million for corporate tax and 28.7 million for related operations, in addition to 11.3 million for VAT.
Additionally, the insurer has set aside 45 million euros to regularise the tax situation for the periods 2021 to 2024 and has begun the process to recover taxes paid in Brazil.
On the other hand, Mapfre expects to recover 110 million euros from previous litigation with the tax authorities, related to deductions for technological innovation in corporate tax, as well as another 40 million for discrepancies regarding the deductibility of expenses.
In the first half of 2026, the company has also reported a negative impact of 30.6 million euros on its results due to hyperinflation in Venezuela, Argentina, and Turkey.
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