Page 299 - ACCESS BANK ANNUAL REPORTS_eBook

IT and e-business expenses 8,277,398 7,626,411 7,305,290 6,750,086
Outsourcing costs 6,038,146 4,211,075 4,812,368 3,771,607
Advertisements and marketing expenses 2,424,516 1,639,273 2,207,928 1,342,458
Recruitment and training 5,462,666 2,618,909 4,106,144 2,447,297
Events, charities and sponsorship 1,142,566 1,007,974 984,488 869,154
Periodicals and subscriptions 3,518,297 3,104,455 3,201,277 2,691,644
Security expenses 2,148,653 1,671,083 1,846,990 1,548,319
Cash processing and management cost 1,532,751 1,576,253 1,330,451 1,205,990
Stationeries, postage and printing 694,447 475,289 303,389 297,801
Office provisions and entertainment 152,923 49,496 152,924 49,496
Net litigations claims (see note 34(i)
117,119,230 94,413,516 103,993,256 84,588,227

(a) This represents the Group’s contribution to AMCON’s sinking fund for the year ended 31 December 2017. All
deposit money banks in Nigeria are required to contribute 0.5% of total assets as at the preceding year end to
AMCON’s sinking fund in line with existing guidelines. It is non-refundable and does not represent any ownership
interest nor does it confer any rights or obligations (save to pay the levy) on the contributor.

16 Income tax expense

Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Current tax expense
Corporate income tax 9,124,532 6,096,035 5,640,954 3,571,312
IT tax 670,435 805,796 670,435 805,796
Education tax 1,081,841 - 1,081,841 -
Capital gains tax 11,145 3,808 11,145 3,808
Prior year’s under provision 1,841,940 - 1,841,940 -
12,729,883 6,905,639 9,246,315 4,380,916
Deferred tax expense
Origination of temporary differences 5,351,746 11,994,470 4,558,364 12,172,525
Income tax expense 18,081,628 18,900,109 13,804,679 16,553,441
Items included in OCI
Income tax expense 188,399 - 188,399 -
18,270,027 18,900,109 13,993,078 16,553,441

The movement in the current income tax liability is as follows:

Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Balance at the beginning of the year 5,938,662 7,780,824 5,004,160 6,442,311
Tax paid (9,458,675) (8,007,140) (7,860,615) (5,222,302)
Income tax charge 10,887,942 6,905,639 7,404,375 4,380,916
Prior year’s under provision 1,841,940 - 1,841,940 -
Witholding tax utilisation (1,841,940) (596,764) (1,841,940) (596,765)
Translation adjustments 121,655 (143,897) - -
Balance at the end of the year 7,489,586 5,938,662 4,547,920 5,004,160

Income tax liability is to be within one year

Access BAnk Plc 299
Annual Report & Accounts 2017