Basic HTML Version
Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
and Its Financial Subsidiaries Consolidated Financial Report as at and
For the Year Ended 31 December 2013
(Currency: Thousands of Turkish Lira (“TL”))
Convenience Translation of the Consolidated 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 liability of the Group is amounting to TL 61,399 (31 December 2012: TL 172,808).
Information on taxes payable
Current Year
Previous Year
Corporate taxes payable
61,399
172,808
Taxation on securities
89,264
94,433
Capital gains tax on property
1,903
1,579
Banking and Insurance Transaction Tax (BITT)
44,929
39,530
Taxes on foreign exchange transactions
-
-
Value added tax payable
4,360
3,220
Others
32,870
28,421
Total
234,725
339,991
Information on premiums payable
Current Year
Previous Year
Social security premiums- employee share
656
526
Social security premiums- employer share
1,538
1,349
Bank pension fund premium- employee share
-
-
Bank pension fund premium- employer share
-
-
Pension fund membership fees and provisions- employee share
3
-
Pension fund membership fees and provisions- employer share
-
-
Unemployment insurance- employee share
590
497
Unemployment insurance- employer share
1,237
1,060
Others
8
130
Total
4,032
3,562
Information on deferred tax liabilities
Disclosed in Note 15 of information and disclosures for consolidated assets.
9. Information on payables for assets held for resale and tangible assets related to discounted activities
None.
10. Information on subordinated loans
The Parent 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 Parent 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 Parent 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
283