Acerinox first steelmaker to obtain Fair Tax Mark

Spanish steelmaker Acerinox have been awarded the Fair Tax Mark by the Fair Tax Foundation, becoming the first steel company in the world to achieve certification under the globally recognised standard for responsible tax conduct.

The Fair Tax Foundation are a non-profit organisation that promote tax fairness and corporate tax transparency, encouraging and recognising organisations that pay the right amount of corporate income tax at the right time and in the right place. Currently, 275 companies across various sectors and countries hold this accreditation, but none previously from the steel industry.

The Fair Tax Mark certification evaluates transparency through the detailed publication of taxes paid in every country where the company operates. Additionally, it certifies responsible practices, such as shunning aggressive tax avoidance structures or tax havens, and promotes tax fairness.

Bernardo Velázquez, CEO of Acerinox, said:

“The Fair Tax accreditation reflects the Group’s firm commitment to responsible taxation, backing the development of ethical and transparent corporate governance. We believe taxes are a fundamental tool for creating value for society as a whole.”

Greg Yates, Senior Ratings Manager at the Fair Tax Foundation, said:

“We are delighted to welcome Acerinox as a Fair Tax Mark certified company. As one of the world’s leading manufacturers of stainless steel and high-performance alloys, Acerinox’s commitment to responsible tax conduct sends a powerful message about the role major multinationals can play in building trust and contributing fairly to the societies in which they operate.”

During 2025, Acerinox’s total tax contribution reached €523mn across the more than 80 countries where the company distributes its products.

The steelmaker becomes the fourth Spanish company to earn this accreditation, joining Iberdrola, Repsol and Amadeus.