VKF_FRAE_2017

245 VakıfBank Annual Report 2017 CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUEDIN TURKISH, SEE NOTE I. OF SECTION THREE TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI EXPLANATIONS AND NOTES RELATED TO THE UNCONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) Information on other provisions Information on other provisions exceeding 10% of total provisions Current Period Prior period Provisions for credits 3,207 184,880 Specific provisions for non-cash loans 75,942 59,816 Provision for cheques 79,112 66,959 Provisions for lawsuits against the Bank 2,760 4,755 Provisions for credit card promotions 9,768 9,595 Other provisions 534,381 20,473 Total 705,170 346,478 Information on provision for possible risks The Bank recognized free provision in the current year amounting to TL 500.000 in line with the conservatism principle considering the circumstances that may arise from possible changes in the economy and financial markets. 8. Taxation Current taxes Tax provision As at and for the year ended December 31, 2017, the corporate taxes payable was amounted to TL 764,909 (December 31, 2016: TL 724,953). As at December 31, 2017, corporate tax liabilities of the Bank was amounted to TL 451,736 (December 31, 2016: TL 576,578), after deducting prepaid taxes paid during temporary tax periods amounted to TL 313,173 (December 31, 2016: TL 148,375). Information on taxes payable Current Year Prior Year Corporate taxes payable 313,173 148,375 Taxation on securities 160,257 151,546 Capital gains tax on property 3,045 2,655 Taxes on foreign exchange transactions - - Banking and Insurance Transaction Tax (BITT) 121,325 91,205 Value added tax payable 4,234 3,616 Other 32,683 24,814 Total 634,717 422,211