TAXATION continued d. Tax expense - current continued

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 138

33. TAXATION continued

g. Tax assessment letters Fiscal year 2013 Based on verification process done by Tax office, on December 16, 2014, Tax Office 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. Management disagree with the Tax Underpayment Assessment Letter and has submitted an objection letter to Tax Office dated March 10, 2015. Bank has paid all the tax underpayment amount and recorded it as prepaid tax on December 31, 2015 and 2014. Until the date of the these consolidated financial statements, the tax objection is still in progress. Fiscal year 2010 Based on tax audit result, on December 6, 2012, the Bank received Tax Underpayment Assessment Letters SKPKB which stated underpayments of corporate income tax related with loan write-offs and Value Added Tax VAT and Tax Collection Letter penalties STP for fiscal year 2010 totalled to Rp1,108,071. Management disagree with the Tax Underpayment Assessment letter result and on March 4, 2013, Bank has submitted an objection letter to the tax office.The Bank has paid all the tax underpayment which recorded as prepaid tax as of December 31, 2015 and 2014. On December 2013, the Tax Office issued a decision letter to the Banks objection letters on VAT above and partially accepted the Banks objection, therefore the Tax office refunded a portion of prepaid tax related to VAT. The Bank disagreed with the above decision letter and has submitted an appeal for on the above decision letter to the Tax Court in March 2014. Until the date of this consolidated financial statements, the tax court is still on progress. On February 21, 2014, Tax Office issued a decision letter to the Banks objection letters on tax underpayment on corporate income tax and Tax Office rejected the objection. The Bank has filed an appeal against the objection decision letter to the Tax Court on May 19, 2014. Until the date of these consolidated financial statements, the appeal in tax court is still on progress.

h. Tax collection letter Fiscal year 2014

Based on assesment process done by Tax Office on December 29, 2015, Tax Office issued Tax Collection Letter STP which stated underpayment of corporate tax expense for 2014 fiscal year of Rp1,459,120 and penalties of Rp233,459. Management disagree with the Tax Collection Letter and Bank has submitted an application letter for cancellation Tax Collection Letter to Tax Office on December 31, 2015. Bank has paid all the tax underpayment of Rp1,459,120 and recorded it as prepaid tax on December 31, 2015. Until the date of these consolidated financial statements, Bank is still waiting for the result on the above concellation request. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 139

34. EMPLOYEE BENEFIT LIABILITIES December 31, December 31,

2015 2014 Rupiah Provision for post-employment benefit Note 50 2,411,613 2,234,193 Provisions for bonuses, leave and holiday entitlements 3,365,464 2,946,967 5,777,077 5,181,160 The provision for post-employment benefit such as pension fund and other long term remuneration is according to Bank and Subsidiaries’ policy which had been calculated using actuarial calculation. 35. OTHER LIABILITIES December 31, December 31, 2015 2014 Rupiah: Liability to policyholders 3,486,140 3,144,685 Guarantee deposits 1,053,344 737,225 Liability related to ATM and credit card transaction 966,227 966,018 Payable to customers 926,371 2,018,396 Liabilities related to unit-link 596,316 1,152,424 Deferred income directly attributable 517,242 501,082 Deferred income not directly attributable 356,577 242,143 Customers transfer transaction 124,431 57,367 Payable from purchase of marketable securities 42,194 13,201 Others 3,442,846 4,320,549 Total 11,511,688 13,153,090 Foreign currencies: Guarantee deposits 906,797 1,178,359 Other liabilities related to UPAS transactions 743,551 796,728 Deferred income not directly attributable 321,721 422,854 Customers transfer transaction 64,301 555,859 Deferred income directly attributable 3,761 1,936 Others 637,593 261,860 Total Note 61B.v 2,677,724 3,217,596 14,189,412 16,370,686 Liabilities to policyholders consist of liabilities of the Subsidiaries AXA Mandiri Financial Services, Mandiri AXA General Insurance and PT Asuransi Jiwa Indonesia InHealth as follows: December 31, December 31, 2015 2014 Future policy benefits from non unit-linked products 1,705,778 1,724,888 Claim payables 89,324 93,824 Unearned premiums 1,188,453 954,692 Estimated claim liabilities 502,585 371,281 3,486,140 3,144,685