Income tax expense (Tables)

12 Months Ended

Dec. 31, 2017

Income tax relating to each component of other comprehensive income
2017	Before tax			Tax (expense)/ credit			Net of tax
Foreign currency translation differences		100,149			(107,299	)		(7,150	)
Remeasurements of employee termination benefits		(3,738	)		748			(2,990	)

		96,411			(106,551	)		(10,140	)

2016
Foreign currency translation differences		218,472			(87,381	)		131,091
Remeasurements of employee termination benefits		(34,532	)		7,066			(27,466	)

		183,940			(80,315	)		103,625

2015
Foreign currency translation differences		(384,466	)		(5,749	)		(390,215	)
Changes in cash flow hedge reserve		719			—			719
Remeasurements of employee termination benefits		(13,466	)		2,563			(10,903	)

		(397,213	)		(3,186	)		(400,399	)

Reconciliation of income tax expense


	2017			2016			2015
Profit from continuing operations before income tax expense		2,609,517			2,009,127			2,203,327
Profit from discontinued operations before income tax expense		—			(42,164	)		367,336

Profit before income tax expense		2,609,517			1,966,963			2,570,663

Tax at the Turkey’s tax rate		(521,903	)		(393,393	)		(514,133	)
Difference in overseas tax rates		4,133			(15,935	)		(52,688	)
Effect of exemptions (*)		73,916			104,244			62,163
Effect of amounts which are not deductible		(102,102	)		(78,571	)		(16,104	)
Utilization of previously unrecognized tax losses		—			1,253			22,863
Change in unrecognized deferred tax assets (**)		(41,340	)		(30,616	)		(198,364	)
Adjustments for current tax of prior years		11,280			(8,176	)		—
Tax effect of investment in associate		—			—			32,926
Other		4,258			(1,966	)		(3,775	)

Total income tax expense		(571,758	)		(423,160	)		(667,112	)

(*)

Mainly comprises of research and development tax credit.

(**)

Mainly comprises of tax losses for which no deferred tax asset has been recognized.