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FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
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TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES
CONSOLIDATED FINANCIAL REPORT AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
8. Taxation
Current Taxes
Tax provision
As at and for the year ended 31 December 2014, the tax liability of the Group is amounting to TL 249,673 (31 December 2013: TL 61,399).
Information on taxes payable
Current Period
Prior Period
Corporate taxes payable
249,673
61,399
Taxation on securities
123,184
89,264
Capital gains tax on property
2,176
1,903
Banking and Insurance Transaction Tax (BITT)
59,943
44,929
Taxes on foreign exchange transactions
-
-
Value added tax payable
3,538
4,360
Others
35,796
32,870
Total
474,310
234,725
Information on premiums payable
Current Period
Prior Period
Social security premiums-employee share
757
656
Social security premiums-employer share
1,781
1,538
Bank pension fund premium-employee share
-
-
Bank pension fund premium-employer share
-
-
Pension fund membership fees and provisions-employee share
2
3
Pension fund membership fees and provisions-employer share
-
-
Unemployment insurance-employee share
622
590
Unemployment insurance-employer share
1,308
1,237
Others
7
8
Total
4,477
4,032
Information on deferred tax liabilities
Information on deferred tax liabilities is presented in disclosure 15 of information and disclosures related to 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 and in addition to the issuance of this bond, on 3 December 2012 the Bank has realized second trance at nominal value of
USD 400 million, has the maturity of 10 years and 6.0% coupon rate, USD 900 million nominal value in total.
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 “1 November 2006 dated and 26333 numbered
Official Gazette.