Annual Report 2014
Poll
Notes to the consolidated financial statements
16. Income tax
Consolidated income statement | Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Current income tax | (15,513) | (9,022) |
Deferred income tax | 4,007 | 1,789 |
Tax expense charged to the consolidated income statement | (11,506) | (7,233) |
Consolidated statement of other comprehensive income | Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
---|---|---|
Deferred income tax related to items recognized in comprehensive income |
(991) | 1,344 |
Tax charge disclosed in the consolidated statement of other comprehensive income |
(991) | 1,344 |
Reconciliation of the effective tax rate | Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
---|---|---|
PLN’000 | PLN’000 | |
Gross financial profit/loss before tax | 55,145 | 43,260 |
Tax at the statutory tax rate applicable in Poland (19%) | (10,478) | (8,219) |
Items increasing/decreasing the effective tax rate not included in the deferred tax |
(1,028) | 986 |
- premiums to National Fund for Rehabilitation of the Disabled (PFRON) |
(286) | (290) |
- costs of writing off overdue receivables and bad debts | (537) | (224) |
- impairment allowances for future liabilities and provisions for various debtors |
(404) | 85 |
- decrease/increase in impairment allowances with probable lack of realization |
0 | 556 |
- costs related to the share issue scheme | (103) | 0 |
- prudence payments to the Bank Guarantee Fund | (264) | 0 |
- technology tax credit | 483 | 914 |
- costs of establishing IBNR up to the amount of appropriation to the general risk fund |
225 | 0 |
- other expenses | (142) | (55) |
Total current tax expense charged to consolidated income statement |
(11,506) | (7,233) |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
|
---|---|---|---|---|
Deferred tax assets | PLN’000 | PLN’000 | PLN’000 | PLN’000 |
Interest due on deposits | 5,802 | 3,740 | 2,062 | (496) |
Cost of debt securities (premium, EIR) | 1,028 | 839 | 189 | 273 |
Interest due on debt securities | 621 | 1,289 | (668) | (541) |
Negative measurement of derivatives | 78 | 165 | (87) | (67) |
Provisions for due costs by type | 8,623 | 1,953 | 6,670 | (692) |
Commissions and interest accounted for using the effective interest method | 14,497 | 15,389 | (892) | 4,103 |
Impairment losses on receivables from financial entities | 31 | 43 | (12) | 19 |
Impairment losses on receivables from non-financial entities | 13,878 | 11,316 | 2,562 | 2,318 |
Allowances for current account commissions | 2,162 | 1,631 | 531 | 851 |
Difference between balance-sheet amortization and tax amortization | 550 | 1,097 | (547) | 196 |
Contribution to non-bank company | 0 | 7 | (7) | 7 |
Other | 12 | 82 | (70) | (39) |
Net deferred income tax assets or asset items charged to profit or loss | 47,282 | 37,551 | 9,731 | 5,932 |
Net deferred income tax assets or asset items charged to equity | 457 | 529 | (72) | 512 |
Total deferred tax assets | 47,739 | 38,080 | 9,659 | 6,444 |
Deferred tax liability | PLN’000 | PLN’000 | PLN’000 | PLN’000 |
Interest receivable accrued on loans | (5,080) | (3,968) | (1,112) | (616) |
Discounting and interest on securities | (686) | (1,866) | 1,180 | 299 |
Positive measurement of derivatives | (314) | (421) | 107 | (47) |
Difference between balance-sheet amortization and tax amortization | (4,255) | (3,552) | (703) | (256) |
Commissions with tax withholding paid to credit agents | (15,251) | (10,053) | (5,198) | (3,529) |
Social Benefits Fund | 0 | (2) | 2 | 6 |
Provision for deferred income tax charged to profit or loss | (25,586) | (19,862) | (5,724) | (4,143) |
Deferred tax liability charged to equity | (1,133) | (214) | (919) | 832 |
Total deferred tax liability | (26,719) | (20,076) | (6,643) | (3,311) |
Presentation in the statement of financial position and income statement: | PLN’000 | PLN’000 | PLN’000 | PLN’000 |
Deferred tax asset recognized in the income statement | 47,282 | 37,551 | 9,731 | 5,932 |
Deferred tax liability charged to the income statement | (25,586) | (19,862) | (5,724) | (4,143) |
Deferred tax liability / asset – effect on the income statement | 21,696 | 17,689 | 4,007 | 1,789 |
Presentation in the statement of financial position and other comprehensive income: | PLN’000 | PLN’000 | PLN’000 | PLN’000 |
Deferred tax asset recognized in other comprehensive income | 457 | 529 | (72) | 512 |
Deferred tax liability charged to other comprehensive income | (1,133) | (214) | (919) | 832 |
Deferred tax liability / asset - effect on other comprehensive income | (676) | 315 | (991) | 1,344 |
Current income tax liabilities/receivables
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
|
---|---|---|
PLN’000 | PLN’000 | |
Current income tax receivables | 120 | 98 |
Current income tax liabilities | 2,979 | 3,138 |
Annual Report 2014 - Bank Pocztowy
Corporate Governance
- Corporate governance: principles and scope of application
- Control system in the process of preparing financial statements
- Entity authorized to audit financial statements
- Shareholding structure and share capital
- Key information regarding Poczta Polska S.A.
- Cooperation with Poczta Polska S.A.
- Investor relations
- By-laws amending principles
- Activities of the corporate bodies of the Bank