VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 503 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.) 8. Information on income/loss from discontinued and continuing operations Information and detailed tables on profit before tax from continuing operations are presented in disclosures 1-6 in this section. The Group has no discontinued operations. 9. Information on tax provision from discontinued and continuing operations Information on provision for taxes on income from continuing operations is presented in disclosure 11 in this section. The Group has no discontinued operations.  10. Information on net profit/loss from discontinued and continuing operations Information on net profit/loss from continuing operations is presented in disclosures 1-12 in this section. The Group has no discontinued operations. 11. Provision for taxes Current year taxation benefit or charge and deferred tax benefit or charge In the current period, the Group recorded a tax provision of TL 840,854 (December 31, 2017: TL 831,655) from the operating profit in accordance with the Corporate Tax Law and other laws and regulations. The details of the deferred tax expense of the Group are shown 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 152,659 Arising from (Origination)/ Reversal of Taxable Temporary Differences (397,100) Arising from Origination / (Reversal) of Tax Losses - Arising from Tax Rate Change - Total (244,441) Sources of deferred tax benefit/charge Prior Period - December 31, 2017 Arising from Origination / (Reversal) of Deductible Temporary Differences (48,316) Arising from (Origination)/ Reversal of Taxable Temporary Differences (112,056) Arising from Origination / (Reversal) of Tax Losses - Arising from Tax Rate Change - Total (160,372)