VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 485 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 FOR THE YEAR ENDED DECEMBER 31, 2018 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) Information on insurance technical provisions Current Period - December 31, 2018 Unearned Premium Reserves 1,180,901 Outstanding Claims Reserves 1,919,637 Life Mathematical Reserves 302,494 Other 44,030 Total 3,447,062 Prior Period - December 31, 2017 Unearned Premium Reserves 961,880 Outstanding Claims Reserves 1,353,675 Life Mathematical Reserves 304,770 Other 25,193 Total 2,645,518 8. Taxation Current Taxes As at and for the year ended December 31, 2018, the tax liability of the Group is amounting to TL 317,754 (December 31, 2017: TL 323,837). Information on taxes payable Current Period - December 31, 2018 Corporate taxes payable 317,754 Taxation on securities 237,984 Capital gains tax on property 3,258 Taxes on foreign exchange transactions - Banking and Insurance Transaction Tax (BITT) 207,040 Value added tax payable 6,834 Other 75,332 Total 848,202