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188 A&T BANK ANNUAL REPORT 2015
ARAP TÜRK BANKASI ANONİM ŞİRKETİ
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AT 31 DECEMBER 2015
(AMOUNTS EXPRESSED IN THOUSANDS OF TURKISH LIRA (“TL”) UNLESS OTHERWISE STATED. )
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I OF SECTION THREE
If transactions and events are recorded in the statement of income, then the related tax effects are also recognized in the
statement of income. However, if transactions and events are recorded directly in the shareholders’ equity, the related
tax effects are also recognized directly in the shareholders’ equity.
The net amount of deferred tax receivables and deferred tax payables is shown on the financial tables.
Transfer Pricing
In Turkey, the transfer pricing provisions has been stated under the Article 13 of Corporate Tax Law with the heading
of “Disguised Profit Distribution via Transfer Pricing”. “The General Communiqué on disguised profit distribution via
Transfer Pricing”, dated 18 November 2007 sets details about implementation.
If the companies enter into transactions concerning to the sale or the purchase of the goods or services with the related
parties by setting the prices or amounts which are not in line with the arm’s length principle, related profits will be
treated as having been wholly or partially distributed in a disguised way via transfer pricing. This kind of disguised profit
distribution via transfer pricing cannot be deducted from tax base in accordance with corporate tax.
XVIII. ADDITIONAL INFORMATION ON BORROWINGS
Except for financial liabilities that are classified as held for trading derivatives which carried at fair values, all other
financial liabilities are initially recognized at cost including transaction costs and re-measured at amortized cost using the
effective interest rate method.
The Group did not issue any stocks convertible into bonds.
The Group does not have borrowing instruments issued by itself.
XIX. INFORMATION ON SHARE ISSUANCES
The Group has not issued any share in the year.
XX. INFORMATION ON BILLS OF EXCHANGES AND ACCEPTANCES
Acceptances are realized simultaneously with the payment dates of the clients and they are presented as commitments
in off-balance sheet accounts.
There are no acceptances presented as liabilities against any assets.