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Current and Deferred taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Current and Deferred Taxes [Abstract] |
Schedule of current taxes |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Summary of current tax liabilities (assets) |  |  |  |  |  |  |  |
Current tax (assets) |  |  | (11,648 | ) |  |  | - |
Current tax liabilities |  |  | - |  |  |  | 8,093 |
Total tax payable (recoverable) |  |  | (11,648 | ) |  |  | 8,093 |
(Assets) liabilities current taxes detail (net) |  |  |  |  |  |  |  |
Income tax, tax rate |  |  | 153,424 |  |  |  | 196,527 |
Minus: |  |  |  |  |  |  |  |
Provisional monthly payments |  |  | (159,943 | ) |  |  | (186,060 | )
Credit for training expenses |  |  | (2,145 | ) |  |  | (1,937 | )
Land taxes leasing |  |  |  |  |  |  | - |
Grant credits |  |  | (1,149 | ) |  |  | (1,320 | )
Other |  |  | (1,835 | ) |  |  | 883 |
Total tax payable |  |  | (11,648 | ) |  |  | 8,093 |
Schedule of effect on income |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |
Current tax |  |  | 153,424 |  |  |  | 196,527 |  |  |  | 145,112 |
Credits (debits) for deferred taxes |  |  |  |  |  |  |  |  |  |  |  |
Origination and reversal of temporary differences |  |  | 37,432 |  |  |  | (25,517 | ) |  |  | (6,751 | )
Valuation provision |  |  | - |  |  |  | (56 | ) |  |  | 5,955 |
Subtotals |  |  | 190,856 |  |  |  | 170,954 |  |  |  | 144,316 |
Tax for rejected expenses (Article No21) |  |  | 927 |  |  |  | 1,110 |  |  |  | 610 |
Other |  |  | (16,709 | ) |  |  | (4,920 | ) |  |  | 105 |
Net charges for income tax expense |  |  | 175,074 |  |  |  | 167,144 |  |  |  | 145,031 |
Schedule of effective tax rate reconciliation |
|  | For the year ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | Tax |  |  |  |  |  | Tax |  |  |  |  |  | Tax |  |  |  |
|  | rate |  |  | Amount |  |  | rate |  |  | Amount |  |  | rate |  |  | Amount |
|  | % |  |  | MCh$ |  |  | % |  |  | MCh$ |  |  | % |  |  | MCh$ |
Tax calculated over profit before tax |  |  | 27.00 |  |  |  | 214,566 |  |  |  | 27.00 |  |  |  | 207,046 |  |  |  | 25.50 |  |  |  | 183,671 |
Price level restatement for tax purposes(1) |  |  | (6.33 | ) |  |  | (50,297 | ) |  |  | (5.15 | ) |  |  | (39,494 | ) |  |  | (3.03 | ) |  |  | (21,829 | )
Single penalty tax (rejected expenses) |  |  | 0.12 |  |  |  | 927 |  |  |  | 0.14 |  |  |  | 1,110 |  |  |  | 0.08 |  |  |  | 610 |
Effect of tax reform changes on deferred tax(2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2.86 | ) |  |  | (20,600 | )
Real estate taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other |  |  | 1.24 |  |  |  | 9,878 |  |  |  | (0.20 | ) |  |  | (1,518 | ) |  |  | 0.44 |  |  |  | 3,179 |
Effective tax rates and expenses for income tax |  |  | 22.03 |  |  |  | 175,074 |  |  |  | 21.79 |  |  |  | 167,144 |  |  |  | 20.13 |  |  |  | 145,031 |
| (1) | Mainly corresponds to the permanent differences originated from the Own Tax Monetary Correction and the effect of the bonds received to article 104 of LIR.
Schedule of effect of deferred taxes on comprehensive income |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Deferred tax assets |  |  |  |  |  |  |  |
Debt instruments at FVOCI |  |  | 8,074 |  |  |  | 1,166 |
Cash flow hedges |  |  | 10,918 |  |  |  | 65 |
Total deferred tax assets recognised through other comprehensive income |  |  | 18,992 |  |  |  | 1,231 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Available for sale investments |  |  | - |  |  |  | - |
Debt instruments at FVOCI |  |  | (15,830 | ) |  |  | (2,976 | )
Cash flow hedges |  |  | - |  |  |  | (2,711 | )
Total deferred tax liabilities recognised through other comprehensive income |  |  | (15,830 | ) |  |  | (5,687 | )
Net deferred tax balances in equity |  |  | 3,162 |  |  |  | (4,456 | )
Deferred taxes in equity attributable to shareholders of the Bank |  |  | 3,444 |  |  |  | (4,102 | )
Deferred tax in equity attributable to non-controlling interests |  |  | (282 | ) |  |  | (354 | )
Schedule of effect of deferred taxes on income |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Deferred tax assets |  |  |  |  |  |
Interests and adjustments |  |  | 9,531 |  |  |  | 9,384 |
Non-recurring charge-offs |  |  | 15,325 |  |  |  | 13,389 |
Assets received in lieu of payment |  |  | 1,214 |  |  |  | 785 |
Exchange rate adjustments |  |  | - |  |  |  | 1,675 |
Property, plant and equipment valuation |  |  | 6,381 |  |  |  | 6,138 |
Allowance for loan losses |  |  | 188,956 |  |  |  | 184,488 |
Provision for expenses |  |  | 89,098 |  |  |  | 63,134 |
Derivatives |  |  | - |  |  |  | 3,924 |
Leased assets |  |  | 116,226 |  |  |  | 107,897 |
Subsidiaries tax losses |  |  | 5,416 |  |  |  | 5,314 |
Prepaid expenses |  |  | - |  |  |  | 156 |
Right of use assets |  |  | 249 |  |  |  | - |
Total deferred tax assets |  |  | 432,396 |  |  |  | 396,284 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Valuation of investments |  |  | (17,518 | ) |  |  | (42 | )
Prepaid expenses |  |  | (20,347 | ) |  |  | (349 | )
Depreciation |  |  | - |  |  |  | - |
Valuation provision |  |  | (6,058 | ) |  |  | (5,989 | )
Derivatives |  |  | (36,512 | ) |  |  | - |
Exchange rate adjustments |  |  | (2,817 | ) |  |  | (3,383 | )
Other |  |  | (75 | ) |  |  | (20 | )
Total deferred tax liabilities |  |  | (83,327 | ) |  |  | (9,783 | )
Schedule of deferred tax assets and liabilities |
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Deferred tax assets |  |  |  |  |  |
Recognised through other comprehensive income |  |  | 18,992 |  |  |  | 1,231 |
Recognised through profit or loss |  |  | 432,396 |  |  |  | 396,284 |
Total deferred tax assets |  |  | 451,388 |  |  |  | 397,515 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Recognised through other comprehensive income |  |  | (15,830 | ) |  |  | (5,687 | )
Recognised through profit or loss |  |  | (83,327 | ) |  |  | (9,783 | )
Total deferred tax liabilities |  |  | (99,157 | ) |  |  | (15,470 | )

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