27 Dec 2006 08:06
Turkiye Is Bankasi27 December 2006 22.12.2006 Latest news concerning the judicial process of Isbank's excess tax paymentbetween the years 2001-2004 As there has been a series of press news about the cases which were opened byvarious banks against the Ministry of Finance, regarding the deductibility ofinflation losses between 2001 and 2004, following disclosure has become arequisite. Since the previous years' losses, resulting from the inflation adjustments madein accordance with the inflation accounting practice implemented between theyears 2001 and 2004, were not accepted as deduction items in the calculation ofthe corporate tax base, the corporate tax for the related years has beencalculated and paid. However, Isbank went to court for the excess amount of tax paid and opened acase for the refunding of a total amount of TRY 240,151,880. There has not beenany collection, yet, regarding the cases subject to appeal. This information is provided by RNS The company news service from the London Stock Exchange