Groupama // Universal Registration Document 2022

7

FINANCIAL STATEMENTS Combined financial statements and notes

Note 45 Breakdown of tax expenses

45.1 Breakdown of tax expenses – by operating segment

31.12.2022

31.12.2021

France International

Total

France International

Total

(in millions of euros)

Current taxes

(24)

(3)

(27)

(119)

(6)

(126)

Deferred taxes

(103)

(6)

(109)

(64)

(64)

TOTAL

(127)

(9)

(137)

(183)

(7)

(190)

The Group underwent a tax inspection in 2010 and 2019. Reserves were set aside and settled for all accepted assessments. By contrast, assessments relating largely to the level of underwriting reserves for property and casualty, which was deemed excessive by the tax authorities, as well as the risk

of dependence, were not subject to reserves. The Group still considers that the grounds for the tax adjustments are highly questionable and has prepared underwriting arguments for a litigation process.

45.2 Reconciliation between total accounting tax expense and theoretical tax expense calculations (in millions of euros) 31.12.2022 31.12.2021 THEORETICAL TAX EXPENSE (161) (176) Impact of expenses or income defined as non ‑ deductible or non ‑ taxable 12 31 Impact of differences in tax rate 6 (45) Tax credit and various charges 2 2 Charges of prior deficits 7

Losses for the fiscal year not capitalised Deferred tax assets not accounted for Other differences

(2)

(2)

EFFECTIVE TAX EXPENSE

(137)

(190)

The reconciliation with the theoretical statutory tax is as follows:

31.12.2022

31.12.2021

Consolidated income (losses) before tax

Consolidated income (losses) before tax

Theoretical tax rate

Theoretical tax rate

(in millions of euros)

current taxes: 28.41% deferred tax: 25.82%

France

527

25.82%

640

Bulgaria

3

10.00%

1

10.00%

China

5

25.00%

3

25.00%

Croatia

1

18.00%

NS

18.00%

Greece

6

22.00%

7

22.00%

Hungary

18

9.00%

34

9.00%

Italy

34

30.82%

6

30.82%

Romania

28

16.00%

4

16.00%

Tunisia

3

30.00%

3

30.00%

Turkey

(34)

25.00%

(15)

25.00%

TOTAL

591

684

272

Universal Registration Document 2022 - GROUPAMA ASSURANCES MUTUELLES