PSA - 2019 Universal Registration Document

PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 Notes to Peugeot S.A. Financial statements

INCOME TAXES NOTE 19

In view ofthe Group’s tax regime (Note 1.I), tax income andexpenserecognised inprofitand lossare asfollows:

31/12/2019

31/12/2018

(in million euros)

Tax payable to Peugeot S.A. by profitable members of the tax group (1) Return by profitable members of the tax group of tax savings previously transferred by Peugeot S.A. grantees

292.2

116.8

21.3

25.3

Group relief (Tax credits) French tax group tax expense

109.6

182.0

(300.7)

(222.0)

Change in provision for tax savings to be transferred to loss-making subsidiaries

- -

-

Change in provision for tax risks NET INCOME TAX BENEFIT

54.9

122.4 157.0 In 2019, the tax due to Peugeot S.A. from consolidated subsidiaries was a negative amount of €292.2 million, in accordance with the rules (1) governing tax consolidation and the allocation of tax credits.

In 2019, the overallincomeof the Groupas consolidatedentityfor tax purposeswas a profitof €873.4 millionat the standardtax rate. ln 2019, thetax grouphadunusedtax loss carryforwards totalling €10,362.7 million.

FINANCIAL INSTRUMENTS AND RISKMANAGEMENT NOTE 20

The corresponding commitments are as follows:

31/12/2019

31/12/2018

Rate swaps (in million euros)

Nominal

Fair value

Nominal

Fair value

4.5-year variable rate loan 7-year variable rate loan

100.0 212.0 312.0

(1.0) (4.2) (5.2)

- - -

- - -

TOTAL

The swaptransactionsare recognised underoff-balancesheet commitments (Note 21).

282

GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT