VAKIFBANK
2015 ANNUAL REPORT
308
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND
ITS FINANCIAL SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2015
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
8. Taxation
Current Taxes
As at and for the year ended 31 December 2015, the tax liability of the Group is amounting to TL 233,004 (31 December 2014: TL 249,673).
Information on taxes payable
Current Period
Prior Period
Corporate taxes payable
233,004
249,673
Taxation on securities
151,721
123,184
Capital gains tax on property
2,477
2,176
Banking and Insurance Transaction Tax (BITT)
77,808
59,943
Taxes on foreign exchange transactions
-
-
Value added tax payable
4,879
3,538
Other
41,348
35,796
Total
511,237
474,310
Information on premiums payable
Current Period
Prior Period
Social security premiums- employee share
811
757
Social security premiums- employer share
2,095
1,781
Bank pension fund premium- employee share
-
-
Bank pension fund premium- employer share
-
-
Pension fund membership fees and provisions- employee share
10
2
Pension fund membership fees and provisions- employer share
-
-
Unemployment insurance- employee share
695
622
Unemployment insurance- employer share
1,503
1,308
Other
8
7
Total
5,122
4,477
Information on deferred tax liabilities
Information on deferred tax liabilities is presented in disclosure 13 of information and disclosures related to assets.
9. Information on payables for assets held for resale and tangible assets related to discounted activities
None.
10. Information on subordinated loans
The Parent Bank has issued bond having the secondary subordinated loan quality to be sold to non-resident natural and legal persons. The bond has
been issued at the nominal value of US Dollar 500 million with the maturity of 10 years and 6.0% coupon rate. In addition to the bond issued on 1
November 2012, on 3 December 2012 the Bank has realized second trance at nominal value of US Dollar 400 million, has the same due date and
maturity of 10 years and 5.5% coupon rate.
The Parent Bank has issued secondary subordinated loan (Tier II bond) as at January 2015 which contains Basel-III criteria. In this context, the bond has
been issued at the nominal value of US Dollar 500 million with the maturity date of 3 February 2025 and early call option date of 3 February 2020. The
bond has fixed interest, 10 years and one day maturity, two times interest payment in a year with coupon rate of 6.875% and issue yield of 6.95%.
Stated bonds’ total balance sheet value is TL 4,155,551 as of 31 December 2015 (31 December 2014: TL 2,126,436).
