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FINANCIAL INFORMATION
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I OF SECTION THREE
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. )
The detail of deferred tax asset and liability is as follows:
Current Period
Prior Period
Accumulated
temporary
differences
Deferred tax
asset/ (liability)
Accumulated
temporary
differences
Deferred tax
asset/ (liability)
Investment allowance
-
-
515
103
Provisions regarding employee
rights
10,361
2,072
9,897
1,979
Interest accruals
1,762
352
-
-
Unearned Income
2,680
536
3,148
630
Depreciation difference for
tangible and intangible assets
275
55
908
182
Derivative financial
instruments
753
151
-
-
Other
2,806
561
1,989
398
Deferred tax asset
18,637
3,727
16,457
3,292
Depreciation difference for
tangible and intangible assets
1,132
226
2,337
467
Interest accruals
2,198
440
2,647
529
Other
607
121
973
195
Deferred tax liability
3,937
787
5,957
1,191
Deferred tax asset /
(liability), net
14,700
2,940
10,500
2,101
Investment incentive was abolished being effective from January 1, 2006. In case that, entities do not have sufficient
taxable income, deduction of the unused investment incentive as of December 31, 2005 from 2006, 2007 and 2008
income was allowed however it was not permitted to defer this investment incentive to subsequent periods after 2008.
The Constitutional Court abolished this regulation on October 15, 2009 and the time constraint related to investment
incentive has been removed. The resolution has been published in the Official Gazette on January 8, 2010. The Group
may use the investment incentive amounting TL 545 according to the article no.19 of GVK which is not subject to
withholding, by deducting the stoppage subjected amount TL 8,237 according to the temporary article no.61 of GVK
from future profits. The Group does not have net deferred tax assets occurred from unused investment incentives which
can be deducted from future profits in the year 2016. (31 December 2014: TL 103). Partially or fully recoverable of
deferred tax asset is estimated under current conditions.