INTRODUCTION
ACTIVITIES
CORPORATE GOVERNANCE
FINANCIAL INFORMATION AND RISK MANAGEMENT
TÜRKİYE İŞ BANKASI A.Ş.
Notes to the Consolidated Financial Statements for the Year Ended
31 December 2012
265
İŞBANK
ANNUAL REPORT 2012
n. Information on investment property:
Investment properties are properties that the Group holds to earn rentals. Explanations on these subjects are given in Section Three Note XIV.
Current Period
Prior Period
Acquisition Cost
Balance at the Beginning of the Period
1,270,234
1,454,485
Movements in the Period
- Acquisitions
174,763
28,291
- Disposals (-)
(827)
(486)
- Impairment
3,275
(103,007)
- Transfers
(80,017)
(109,049)
- Impact of Consolidated Subsidiaries
Balance at the End of the Period
1,367,428
1,270,234
Accumulated Amortization
Balance at the Beginning of the Period
(232,940)
(212,328)
Movements in the Period
- Depreciation Charge (-)
(25,860)
(31,693)
- Disposals
207
- Impairment
- Transfers
76
10,874
Balance at the End of the Current Period
(258,724)
(232,940)
Net Book Value at the End of the Prior Period
1,037,294
1,242,157
Net Book Value at the End of the Period
1,108,704
1,037,294
o. Information on deferred tax asset:
As of 31 December 2012, the Parent Bank and the other consolidated Group companies has deferred tax asset amounting to TL 703,973.
Such deferred tax asset is calculated based on the temporary differences between the book value of assets and liabilities and their tax basis
measured as per the prevailing tax regulation. When the items comprising the temporary differences are followed under equity, the related
tax asset/liability is directly recognized under equity items.
Current Period
Prior Period
Tangible Assets Base Differences
26,876
25,851
Provisions
(1)
(496,153)
(470,292)
Finance Lease Income Accruals
3,200
4,072
Valuation of Financial Assets
(157,305)
(93,929)
Other
(2)
(80,591)
(101,486)
Net Deferred Tax (Asset)/Liability:
(703,973)
(635,784)
(1)
Comprised of employee termination benefits, actual and technical deficits of the pension fund, insurance technical provisions, the provisions for credit card bonus points, and other provisions.
(2)
The investment incentive application has ceased starting from 1 January 2006 and the investment incentives of companies, which have not been used as at 31 December 2005 are enabled to be
used by deducting from incomes of years 2006, 2007 and 2008; and it is stated that the amount, if not deducted from the 2008 income, will not be transferred to other periods. On the other hand,
the Court of Constitution has cancelled this regulation that removes the gained rights at the meeting on 15 October 2009, finding it against the Constitution, and in this way, the time limitation
with respect to the investment incentive was removed as at the date of reporting. The related decision was published on the Official Gazette dated 8 January 2010. Within this context, İş Finansal
Kiralama A.Ş., one of the consolidated companies, has TL 381,486 unused investment incentive and TL 42,721 (31 December 2011: TL 62,775) of the “Other” item on the above table consists of the
deferred tax amount calculated over the related investment incentive.
The movement of deferred tax asset is as follows:
Current Period
Prior Period
Balance at the Beginning of the Period
631,694
815,924
Deferred Tax Benefit / (Charge) (Net)
304,553
(313,445)
Deferred Tax Recognized under Equity
(239,600)
127,028
Foreign Currency Difference
56
(205)
Impact of Consolidated Subsidiaries
2,392
Deferred Tax Asset
(1)
696,703
631,694
(1)
In the current period consolidated financial statements, deferred tax asset amounts to TL 703,973 and the deferred tax liability amounts to TL 7,270; the movement table states the net balance.
Explanations on deferred tax liability are given in Section Five footnote II i.2.
1...,257,258,259,260,261,262,263,264,265,266 268,269,270,271,272,273,274,275,276,277,...300