TAXATION b. Taxes payable continued
33. TAXATION continued d. Tax expense - current continued
Based on Certificate No. DEI2017-0154 dated January 5, 2017 regarding Monthly Stock Ownerships of Publicly Listed Companies Report and the Recapitulation form No X.H. 1-2 dated December 31, 2016 from PT Datindo Entrycom Securities Administration Agency to Bank Mandiri, it was stated that the Bank has fullfilled the requirements to obtain the income tax rate reduction to become 20 based on GR No. 77 Year 2013 and GR No. 56 Year 2015. In accordance with Minister of Finance Regulation No. 238PMK.032008, FSA previously “Bapepam-LK” will then later submit the information regarding the fulfillment by the Bank to the Tax office. Therefore the Bank’s corporate income tax for the year ended December 31, 2016 are calculated using the tax rate of 20. The Bank believes that it can fulfill the requirements to obtain the reduction in income tax rate for the year ended December 31, 2016. The calculation of income tax for the year ended December 31, 2016 as described above will be the basis for filling the Annual Tax Return SPT of Corporate Income Tax.e. Deferred tax assets - net
Deferred tax arises from temporary differences between book value based on commercial and tax are as follows: December 31, 2016 Beginning balance Credited charged to consolidated statement of profit or loss and other comprehensive income Charged to equity Ending balance Bank Mandiri Deferred tax assets: Loans write-off until 2008 1,248,713 42,501 - 1,206,212 Provision for post-employment benefit expense, provision for bonuses, leave and holiday THR entitlements 1,068,972 138,191 40,044 1,247,207 Allowance for impairment loan losses 1,111,707 1,149,720 - 2,261,427 Allowance for impairment losses on financial assets other than loans 426,812 17,795 - 444,607 Unrealised losses on decrease in fair value of marketable securities and government bonds available for sale 375,769 - 105,624 270,145 Allowance for estimated losses arising from legal cases 107,646 56,566 - 51,080 Estimated losses on commitments and contingencies 74,146 35,517 - 38,629 Allowance for possible losses on abandoned properties 29,819 692 - 29,127 Allowance for possible losses on repossessed assets 1,994 - - 1,994 Accumulated losses arising from difference in net realisable value of repossessed assets 1,969 - - 1,969 Unrealised losses on decrease in fair value of marketable securities and government bonds - fair value through profit or loss 4,657 1,153 - 3,504 Accumulated losses arising from difference in net realisable value of abandoned properties 189 15 - 174 Deferred tax assets 4,452,393 1,169,262 65,580 5,556,075 Deferred tax liabilities: Unrealised gain on BOT transactions 21,828 21,828 - - Net book value of fixed assets 111,884 8,602 - 120,486 Deferred tax assets - Bank Mandiri only 4,318,681 1,182,488 65,580 5,435,589 Net deferred tax assets - Subsidiaries 515,841 554,512 Total consolidated deferred tax assets - net 4,834,522 5,990,101 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 14833. TAXATION continued e. Deferred tax assets - net continued
December 31, 2015 Beginning balance Credited charged to consolidated statement of profit or loss and other comprehensive income Charged to equity Ending balance Bank Mandiri Deferred tax assets: Loans write-off until 2008 1,331,538 82,825 - 1,248,713 Provision for post-employment benefit expense, provision for bonuses, leave and holiday THR entitlements 963,865 163,217 58.110 1,068,972 Allowance for impairment loan losses 869,007 242,700 - 1,111,707 Allowance for impairment losses on financial assets other than loans 410,180 16,632 - 426,812 Unrealised losses on decrease in fair value of marketable securities and government bonds available for sale 139,816 - 235,953 375,769 Allowance for estimated losses arising from legal cases 100,936 6,710 - 107,646 Estimated losses on commitments and contingencies 39,030 35,116 - 74,146 Allowance for possible losses on abandoned properties 29,819 - - 29,819 Allowance for possible losses on repossessed assets 1,994 - - 1,994 Accumulated losses arising from difference in net realisable value of repossessed assets 1,969 - - 1,969 Unrealised losses on decrease in fair value of marketable securities and government bonds fair value through profit or loss 1,501 3,156 - 4,657 Accumulated losses arising from difference in net realisable value of abandoned properties 189 - - 189 Deferred tax assets 3,889,844 384,706 177,843 4,452,393 Deferred tax liabilities: Unrealised gain on BOT transactions 20,268 1,560 - 21,828 Net book value of fixed assets 66,252 45,632 - 111,884 Deferred tax assets - Bank Mandiri only 3,803,324 337,514 177,843 4,318,681 Net deferred tax assets - Subsidiaries 385,796 515,841 Total consolidated deferred tax assets - net 4,189,120 4,834,522 Deferred tax assets are calculated using applicable tax rate or substantially enacted tax rate at consolidated statement of financial position dates. Management believes that it is possible that future taxable income will be available to be utilised against the temporary difference, which results in deferred tax assets.f. Tax on fixed assets revaluation
According to the Regulation of the Ministry of Finance No. 191PMK.0102015 dated October 15, 2015, which the application related to fixed assets revaluation that was filed until the date of December 31, 2015, will receive special treatment in the form of lower final income tax of 3. In this regard, the Bank has estimated the fair value of fixed assets land with nominal value amounting to Rp28,334,586 from previously Rp2,745,599. The Bank requested revaluation of fixed assets to tax office for tax purposes and the Bank has made tax payments amounting to Rp792,467 on May 25, 2016. The tax office through letter No. KEP-418WPJ.192016 has approved the Bank’s request.g. Tax assessment letters Fiscal year 2013
According to the verification result by Tax office, on December 16, 2014, Tax Office has issued Tax Underpayment Assessment Letter SKPKB which stated underpayment of corporate tax expense in relation to the use of tax rate for 2013 fiscal year of Rp1,313,347 including penalties.Parts
» Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Iswahyudi Arifin Firdaus Rp1,038.71 trillion
» Rp910.06 trillion Wholesale Retail Integrated the Group
» The Organization and Human Resources “HR” Policy Procedure
» System Data Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» MethodologyModel Analytics Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Credit Risk Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Qualitative Disclosure Market Risk
» Quantitative Disclosure Market Risk
» Qualitative Disclosure Liquidity Risk
» Quantitative Disclosure Liquidity Risk
» Risk Management Committee Working Unit Risk Owner ORM Coordinator Internal Audit
» Risk Awareness Program MRO Forum Risk Profile Report Legal Risk
» Reputation Risk Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Strategic Risk Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Compliance Risk Identification Assessment
» Relations with Management or Key Employee of Bank Mandiri
» Bank Mandiris Branch and e-channel Services Improvement Alliance DevelopmentSynergy
» Problem Management Development Infrastructure Security
» GMS Brief Minutes Ads GMS Minutes Article 33
» AGMS March 6, 2015 Agenda Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» EGMS December 18, 2015 Agenda Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Capacity to Represent Capacity to Make Decision
» Human Resources Policy and Strategy Operational Activities Human Resources Policy and Strategy
» Human Resources Policy and Strategy Operational Activities
» Human Resources Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» BOD and SEVP: included PPC Category A and B No. Group Head PPC Kategori B No.
» Organization and Human Resources Policies Procedures System Data
» MethodologyModels Analytics Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Integrity Pact Socialization Gratification Control Reporting Gratification
» Conflict of Interest Confidentiality
» Abuse of Position Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Conduct Integrity and Accuracy of Data Bank Banking System Integrity Individual Behavior
» Aspect 2: Function and Role of Board of Commissioners
» Protection of Possession Bank Employee Welfare
» Remuneration Employee Turnover Level
» Social Security Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» Mandiri Sahabatku Mandiri Peduli Pendidikan
» Mandiri Peduli Kesehatan Mandiri Peduli Sarana Umum dan Ibadah Mandiri Peduli Bencana
» GENERAL INFORMATION a. Establishment
» GENERAL INFORMATION continued b. Merger continued
» GENERAL INFORMATION continued c. Recapitalisation continued
» GENERAL INFORMATION continued g. Subsidiaries
» GENERAL INFORMATION continued g. Subsidiaries continued
» GENERAL INFORMATION continued h. Structure and Management continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Financial liabilities continued Derecognition
» Reclassification of financial assets
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued c. Financial instruments continued
» Classes of financial instruments continued
» Allowance for impairment losses of financial assets
» Allowance for impairment losses of financial assets continued
» Investment in sukuk continued
» Principles of consolidation Determination of fair value continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued d. Principles of consolidation continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued l.
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued q. Net investment in lease financing
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued s. Investments in shares
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued v. Other assets
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued x. Deposits from customers continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued z. Insurance contract continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ad. Income tax continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ae. Temporary syirkah funds continued
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued ai. Employee benefits continued
» USE OF CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
» CURRENT ACCOUNTS WITH BANK INDONESIA December 31, December 31,
» CURRENT ACCOUNTS WITH BANK INDONESIA continued December 31, December 31,
» CURRENT ACCOUNTS WITH OTHER BANKS
» CURRENT ACCOUNTS WITH OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued
» PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS continued MARKETABLE SECURITIES
» MARKETABLE SECURITIES continued MARKETABLE SECURITIES continued
» MARKETABLE SECURITIES continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» MARKETABLE SECURITIES continued GOVERNMENT BONDS GOVERNMENT BONDS continued
» GOVERNMENT BONDS continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» OTHER RECEIVABLES - TRADE TRANSACTIONS
» OTHER RECEIVABLES - TRADE TRANSACTIONS continued
» SECURITIES PURCHASED UNDER RESALE AGREEMENTS
» SECURITIES PURCHASED UNDER RESALE AGREEMENTS continued
» DERIVATIVE RECEIVABLES AND PAYABLES
» DERIVATIVE RECEIVABLES AND PAYABLES continued
» LOANS AND SHARIA RECEIVABLESFINANCING continued
» LOANS AND SHARIA RECEIVABLESFINANCINGcontinued
» LOANS AND SHARIA RECEIVABLESFINANCING continued LOANS AND SHARIA RECEIVABLESFINANCING continued
» CONSUMER FINANCING RECEIVABLES continued
» NET INVESTMENT FINANCE LEASES
» NET INVESTMENT IN FINANCE LEASE continued ACCEPTANCES RECEIVABLE
» ACCEPTANCES RECEIVABLE continued INVESTMENT IN SHARES
» INVESTMENT IN SHARES continued
» FIXED ASSETS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» FIXED ASSETS continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» FIXED ASSETS continued Others
» FIXED ASSETS continued Others continued
» INTANGIBLE ASSETS December 31, December 31, OTHER ASSETS December 31, December 31,
» OTHER ASSETS continued DEPOSITS FROM CUSTOMERS - DEMANDWADIAH DEMAND DEPOSITS
» DEPOSITS FROM CUSTOMERS - SAVINGWADIAH SAVING DEPOSITS continued
» DEPOSITS FROM CUSTOMERS - TIME DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - DEMANDWADIAH DEMAND AND SAVING DEPOSITS
» DEPOSITS FROM OTHER BANKS -DEMANDWADIAH DEMAND AND SAVING DEPOSITS continued
» DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
» LIABILITY TO UNIT-LINK HOLDERS
» LIABILITY TO UNIT-LINK HOLDERS continued
» LIABILITY TO UNIT-LINK HOLDERScontinued
» SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
» ACCEPTANCES PAYABLE Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» MARKETABLE SECURITIES ISSUED Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» MARKETABLE SECURITIES ISSUED continued Bonds continued
» MARKETABLE SECURITIES ISSUED continued Subordinated notes sharia mudharabah
» MARKETABLE SECURITIES ISSUED continued Subordinated notes sharia mudharabah continued
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES continued
» TAXATION b. Taxes payable continued
» TAXATION continued d. Tax expense - current
» TAXATION continued d. Tax expense - current continued
» TAXATION continued e. Deferred tax assets - net continued
» TAXATION continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» EMPLOYEE BENEFIT LIABILITIES December 31, December 31,
» OTHER LIABILITIES continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» FUND BORROWINGS continued December 31, December 31,
» FUND BORROWINGS continued FUND BORROWINGS continued
» FUND BORROWINGS continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» SUBORDINATED LOANS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» SUBORDINATED LOANS continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» TEMPORARY SYIRKAH FUNDS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» TEMPORARY SYIRKAH FUNDS continued
» NONCONTROLLING INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES
» SHARE CAPITAL continued a. Authorised, Issued and Fully Paid Capital continued
» SHARE CAPITAL continued a. Authorised, Issued and Fully Paid-in Capital continued
» SHARE CAPITAL continued b. Additional Paid-In CapitalShare Premium continued
» SHARE CAPITAL continued c. Distribution of net income continued
» INTEREST EXPENSE AND SHARIA EXPENSE OTHER OPERATING INCOME - OTHERS Year ended December 31,
» ALLOWANCE AND REVERSAL FOR IMPAIRMENT LOSSES Year ended December 31,
» UNREALISED GAINSLOSSES Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» GAIN ON SALE OF MARKETABLE SECURITIES AND GOVERNMENT BONDS Year ended December 31,
» SALARIES AND EMPLOYEE BENEFITS Year ended December 31,
» SALARIES AND EMPLOYEE BENEFITS continued
» GENERAL AND ADMINISTRATIVE EXPENSES Year ended December 31, EMPLOYEE BENEFITS
» EMPLOYEE BENEFITScontinued Pension Plan
» EMPLOYEE BENEFITS continued Pension Plan continued
» EMPLOYEE BENEFITS continued Pension Plan
» EMPLOYEE BENEFITScontinued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» EMPLOYEE BENEFITS continued EMPLOYEE BENEFITS continued
» EMPLOYEE BENEFITS continued Labor Law No. 132003 continued
» NON-OPERATING EXPENSEINCOME - NET Year ended December 31,
» COMMITMENTS AND CONTINGENCIES continued
» FOREIGN CURRENCY TRANSACTIONS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» RELATED PARTY TRANSACTIONS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» RELATED PARTY TRANSACTIONS continued
» RELATED PARTY TRANSACTIONS continued RELATED PARTY TRANSACTIONS continued
» SEGMENT INFORMATION Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» SEGMENT INFORMATION continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» CAPITAL ADEQUACY RATIO Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» CAPITAL ADEQUACY RATIO continued
» CUSTODIAL SERVICES AND TRUST OPERATIONS
» CUSTODIAL SERVICES AND TRUST OPERATIONS continued
» CHANNELING LOANS Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» RISK MANAGEMENT Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» RISK MANAGEMENT continued Laporan Tahunan 2016 PT Bank Mandiri (Persero) Tbk versi B.Inggris
» RISK MANAGEMENT continued RISK MANAGEMENT continued
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