General information - Eureko Sigorta

88 EUREKO S‹GORTA
EUREKO S‹GORTA A.fi.
Notes to the Financial Statements As at 31 December 2008
(Currency: New Turkish Lira (TRY))
33 Employee benefit expense
As at and for the year ended 31 December 2008, employee benefit expense are disclosed as follows:
Wages and salaries
31 December 2008
(18,326,685)
Other fringe benefits (3,613,406)
Bonus and commissions (3,081,846)
Employer's share in social security premiums (3,007,233)
Others (284,171)
Total (Note 32) (28,313,341)
34 Finance costs
Finance costs as at and for the year ended 31 December 2008 is presented in “Note 4.2 - Financial Risk Management”.
There is not any finance costs capitalized neither on production costs nor tangible assets. All financial costs are recognized
in the statement of income.
35 Income tax expense
Income tax expense in the accompanying financial statements is as follows:
31 December 2008
Current taxes:
Provision for corporate taxes (14,671,831)
Deferred taxes:
Arising from origination (+)/ reversal (-) of deductible temporary differences (121,775)
Arising from origination (+)/ reversal (-) of taxable temporary differences 155,912
Total income tax expense presented in the statement of income (14,637,694)
A reconciliation of tax expense applicable to profit from operating activities before income tax at the statutory income
tax rate to income tax expense at the Company's effective income tax rate for the year ended 31 December 2008 is as
follows:
Tax rate (%)
Profit before taxes 72,286,607
Taxes on income per statutory tax rate (14,457,321) (20.00)
Income exempt from taxation 7,367 0.01
Disallowable expenses (166,521) (0.23)
Others (21,219) (0.03)
Total income tax expense presented in the statement of income (14,637,694) (20.25)
36 Net foreign exchange gains
Net foreign exchange gains is presented in “Note 4.2 - Financial Risk Management”.
37 Earning per share
Profit per share is calculated by dividing net profit of the period to the weighted average number of shares.
Net profit as at and for the year ended 31 December 2008 - YTL
31 December 2008
57,648,913
Weighted average number of shares 6.000.000.000
Earning per share - YTL 0.009608