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Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
Unconsolidated Financial Report as at and
For the Year Ended 31 December 2013
(Currency: Thousands of Turkısh Lıra (“TL”))
(Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I)
8. Taxation
Current Taxes
Tax provision
As at and for the year ended 31 December 2013, the tax provision was amounted to TL 254,525 (31 December 2012: TL 509,000). As at 31 December
2013, corporate tax liabilities of the Bank was amounted to TL 59,926 (31 December 2012: TL 168,792), after deducting prepaid taxes paid during
temporary tax periods amounted to TL 194,599 (31 December 2012: TL 340,208).
Information on taxes payable
Current Year
Prior Year
Corporate taxes payable
59,926
168,792
Taxation on securities
89,264
94,433
Capital gains tax on property
1,891
1,568
Taxes on foreign exchange transactions
-
-
Banking and Insurance Transaction Tax (BITT)
44,809
39,325
Value added tax payable
2,198
2,103
Others
18,151
14,648
Total
216,239
320,869
Information on premiums payable
Current Year
Prior Year
Social security premiums- employee share
-
-
Social security premiums- employer share
-
-
Bank pension fund premium- employee share
-
-
Bank pension fund premium- employer share
-
-
Pension fund membership fees and provisions- employee share
-
-
Pension fund membership fees and provisions- employer share
-
-
Unemployment insurance- employee share
579
495
Unemployment insurance- employer share
1,157
989
Others
-
-
Total
1,736
1,484
Information on deferred tax liability
Disclosed in Note 15 of information and disclosures for assets.
9. Information on payables for assets held for resale and tangible assets related to discounted activities
None.
10. Information on subordinated loans
The Bank has issued bond having the secondary subordinated loan quality to be sold non-resident natural and legal persons. The bond has been issued
at the nominal value of USD 500 million, with maturity of 10 years and 6.0% coupon rate.
In addition to the issuance of the bond having the secondary subordinated debt realized on 1 November 2012, the Bank, has realized second trance in
issuance of the bond having the secondary subordinated debt quality to be sold in foreign bond markets. The bond has been issued at nominal value of
USD 400 million, has the same maturity with previous bond and 5.5% coupon rate.
The Bank has obtained written permission of the BRSA for accounting these bonds as secondary subordinated debt and accordingly considering in the
calculation of supplementary capital in compliance with the “Regulation on Capitals of the Banks” published on “ November 2006 dated and 26333
numbered Official Gazette.
VAKIFBANK ANNUAL REPORT 2013
179