Financial information
CORES prepares its annual accounts in accordance with the applicable commercial and accounting regulations, ensuring transparency and an accurate reflection of its economic and financial position.
The regulatory framework within which it carries out its activity ensures the availability of the resources needed to meet its operating and financial expenses, contributing to the maintenance of the Corporation's economic equilibrium.
Furthermore, the Hydrocarbons Sector Act (Law 34/1998) establishes a specific tax regime for CORES, which provides for the exemption from Corporate Income Tax of the income derived from the contributions made by the obliged entities and of the income obtained from the disposal of strategic reserves provided for in the regulations.
CORES is a non-profit Public Law Corporation whose funding model ensures the resources needed to fulfil its functions, while preserving the Corporation's economic equilibrium.