PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
92
26. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES continued
b. By Collectibility:
December 31, December 31,
April 30, 2004
2003 2003
Current 16,628,425
12,619,060 11,003,957
Special mention 315,787
375,113 1,262,938
Sub-standard 9,231
50,008 -
Doubtful -
25,391 1,150
Loss -
30,737 30,600
Total 16,953,443
13,100,309 12,298,645
Le
ss: Estimated losses on commitments and contingencies
565,898 572,267
1,488,315
Net commitments and contingencies 16,387,545
12,528,042 10,810,330
c. Movements of estimated losses on commitments and contingencies:
Eight-Month Four-Month
Year Ended Year Ended
Period Ended Period Ended
December 31, December 31,
December 31, April 30,
2004 2003
2003 2003
Balance at beginning of period 572,267
1,211,211 1,488,315
1,211,211 Reversal ofaddition to provision during
the period 37,923
641,113 846,430
205,317 Others
31,554 2,169
69,618 71,787
Balance at end of period 565,898
572,267 572,267
1,488,315
includes foreign currency translation effect.
The minimum estimated losses on commitments and contingencies, under the guidelines prescribed by Bank Indonesia, as of December 31, 2004 and 2003, and April 30, 2003 were
Rp371,470, Rp377,308 and Rp1,253,383, respectively. Management believes that the estimated losses on commitments and contingencies provided for
is adequate.
27. TAXATION
a. Taxes payable
December 31, December 31,
April 30, 2004
2003 2003
Bank Mandiri Income Taxes:
Employee income tax - Article 21 35,065
43,844 37,281
Withholding tax - Articles 2326 104,380
120,778 174,997
Corporate income tax - Articles 2529 242,330
423,146 865,398
Land and building tax 1
1 123
Others 56,379
205 2,816
438,155 587,974
1,080,615 Subsidiaries
57,969 13,330
10,394 496,124
601,304 1,091,009
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
93
27. TAXATION continued
b. Corporate income tax expense
Eight-Months Four-Months
Year Ended Year Ended
Period Ended Period Ended
December 31, December 31,
December 31, April 30,
2004 2003
2003 2003
Corporate income tax expense - current: Bank Mandiri only
2,085,997 2,179,540
1,314,142 865,398
Subsidiaries 95,014
9,337 5,795
3,542 2,181,011
2,188,877 1,319,937
868,940
Corporate income tax expense benefit - deferred
Bank Mandiri only 88,070
257,709 586,199
328,490 Subsidiaries
220 1,128
338 790
88,290 256,581
585,861 329,280
2,269,301 2,445,458
1,905,798 539,660
As discussed in Note 2v, corporate income tax for Bank Mandiri and its Subsidiaries is computed for each company as a separate legal entity consolidation is not permitted for corporate income
tax filing purposes.
c. Corporate income tax expense - current The reconciliation between profit before corporate income tax as shown in the consolidated
statements of profit and loss and estimated income tax computations, and the related current income tax expense for Bank Mandiri and its Subsidiaries is as follows:
Eight-Month Four-Month
Year Ended Year Ended
Period Ended Period Ended
December 31, December 31,
December 31, April 30,
2004 2003
2003 2003
Consolidated profit before corporate income tax expense and minority interests
7,525,002 7,031,524
5,134,607 1,896,917
Less: Profit before corporate income tax of Subsidiaries after elimination
95,304 8,186
5,692 2,494
Profit before corporate income tax expense and minority interests - Bank Mandiri only
7,429,698 7,023,338
5,128,915 1,894,423
Adddeduct permanent differences: Non-taxable incomenon-deductible expenses
388,673 411,739
359,792 51,947
Non-deductible loan write-offs -
996,939 996,939
- Non-taxable adjustment of provision
for losses on earning assets other than loans -
200,984 167,027
33,957 Non-taxable adjustment of estimated losses
on commitments and contingencies -
63,494 38,589
102,083 Others
205,922 11,911
8,670 20,581
Adddeduct temporary differences: Allowable tax depreciation overunder
financial statement depreciation 49,616
27,234 414
27,648 Financial statement provision for personnel
expenses overunder allowable tax provision 160,715
361,007 567,530
206,523 Financial statement provision for losses on
earning assets other than loans overunder allowable tax provision
158,347 61,868
121,881 60,013
Financial statement provision for loan losses underover allowable tax provision
265,862 829,568
870,251 40,683
