XML 190 R64.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Current and Deferred taxes (Tables)
 12 Months Ended
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)