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TÜRKİYE İŞ BANKASI A.Ş.
Notes to the Unconsolidated Financial Statements for the Year Ended
31 December 2014
142
İŞBANK
ANNUAL REPORT 2014
The Bank’s management is of the opinion that its payments to the foundation were made in compliance with applicable legislation and that there is no legal basis for the assessments
and claims raised in the tax audit reports. The Bank applied to tax courts to cancel these tax notifications and a substantial part of such court proceedings has been finalized, with
some of the resulting decisions determined in favor of the Bank and others determined against the Bank.
On the other hand, as announced by material event disclosures dated 19 December 2013, in the current year on the same subject relating to tax inspection reports 2009, 2010 and
2011 periods suspended for income tax, stamp tax and tax penalties of the notification is in progress at this time. According to this report, as of the reporting date, total tax and
penalty amounting to TL 152,383 is notified to the Bank. Regarding tax penalties mentioned, having the right to apply for juridical review, the Bank has initiated the agreement
process after assessment and total amount of TL 142,438 has filed in the tax courts. A substantial part of such court proceedings has been finalized of the first instance, with some of
the resulting decisions determined in favor of the Bank and others determined against the Bank
Within the scope of these developments, the Bank recognized provisions amounting to TL 114,473 as of 31 December 2014 (31 December 2013: 209,189 TL).
i.5.5.
Except the provisions which are stated above, other provisions contain provision for expenses, provisions for ongoing lawsuit and other provisions set aside for miscellaneous
reasons.
j. Information on Tax Liability:
j.1. Information on current tax liability:
j.1.1.
Information on tax provision:
Explanations in relation to taxation and tax calculations were stated in section three notes XVIII. The remaining corporate tax liability after the deduction of the temporary tax amount
stands at TL 392,371 as at 31 December 2014.
j.1.2.
Information on taxes payable:
Current Period
Prior Period
Corporate Tax Payable
392,371
104,681
Tax on Securities Income
118,265
108,952
Tax on Real Estate Income
2,963
2,355
Banking Insurance Transaction Tax
97,579
72,776
Foreign Exchange Transaction Tax
48
55
Value Added Tax Payable
2,879
1,887
Other
32,327
25,904
Total
646,432
316,610
j.1.3.
Information on premiums:
Current Period
Prior Period
Social Security Premiums – Employees
80
57
Social Security Premiums – Employer
93
66
Bank Pension Fund Premiums - Employees
Bank Pension Fund Premiums - Employer
Pension Fund Membership Fees and Provisions-Employees
Pension Fund Membership Fees and Provisions-Employer
Unemployment Insurance - Employees
994
766
Unemployment Insurance - Employer
1,988
1,531
Others
Total
3,155
2,420
j.2. Information on deferred tax liabilities:
None.
k. Information on Payables for Assets Held for Sale and Discontinued Operations:
The Bank does not have any payables for assets held for sale and discontinued operations.
l. Information on Subordinated Debts:
As of 24 October 2012, the Bank issued 10 year-term bond with a nominal value of USD 1,000,000,000 and as of 10 December 2013 issued 10 year-term bond with a nominal value
USD 400,000,000 which are both have the characteristic of subordinated loans for the purpose of making available to the individuals and legal persons who are resident abroad.
Interest rates of aforementioned bonds are 6.00% and 7.85% respectively.
The bonds mentioned are amounting to TL 3,268,784 as of 31 December 2014 (31 December 2013: TL 2,984,143).
m. Information on Shareholders’ Equity:
m.1. Presentation of paid-in capital:
Current Period
Prior Period
Common shares
4,499,970
4,499,970
Preferred shares
30
30
Total
4,500,000
4,500,000
m.2. Explanation as to whether the registered share capital system ceiling is applicable at the Bank, if so, the amount of registered share capital:
Capital System
Paid-in Capital
Ceiling
Registered Capital System
4,500,000
10,000,000