VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 299 CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED DECEMBER 31, 2018 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) 8. Information on income/loss from discontinued and continuing operations The Bank has no discontinued operations. Information and detailed tables on profit before tax from continuing operations are presented in disclosures 1-6 in this section. 9. Information on tax provision from discontinued and continuing operations The Bank has no discontinued operations. Information on provision for taxes on income from continuing operations is presented in disclosure 10 in this section. 10. Information on net profit/loss from discontinued and continuing operations The Bank has no discontinued operations. Information on net profit/loss from continuing operations is presented in disclosures 1-12 in this section. 11. Provision for taxes Current period taxation benefit or charge and deferred tax benefit or charge In the current period, the Bank has recorded a tax charge of TL 745,141 (December 31, 2017: TL 792,677) from the net taxable profit calculated in accordance the laws and regulations in effect. Deferred tax benefit of the Bank is detailed in the table below. Deferred tax charge arising from temporary differences, tax losses and unused tax credits Sources of deferred tax benefit/charge Current Period - December 31, 2018 Arising from Origination / (Reversal) of Deductible Temporary Differences 145,251 Arising from (Origination)/ Reversal of Taxable Temporary Differences (399,715) Arising from Origination / (Reversal) of Tax Losses - Arising from Tax Rate Change - Total (254,464) Sources of deferred tax benefit/charge Prior Period - December 31, 2017 Arising from Origination / (Reversal) of Deductible Temporary Differences (47,016) Arising from (Origination)/ Reversal of Taxable Temporary Differences (112,056) Arising from Origination / (Reversal) of Tax Losses - Arising from Tax Rate Change - Total (159,072)