PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
-
77
-
27. ALLOWANCE FOR POSSIBLE ON COMMITMENTS AND CONTINGENCIES Continued
c. Movements of allowance for possible losses on commitments and contingencies:
2002 2001
Balance at beginning of year 5,284,425
7,010,271 Reversal during the year
3,364,433 1,913,412
Others 708,781
187,486 Balance at end of year
1,211,211 5,284,345
Includes foreign currency translation.
The minimum allowance for possible losses on commitments and contingencies, under the guidelines prescribed by Bank Indonesia, as of December 31, 2002 and 2001 are Rp993,468
and Rp4,826,716, respectively.
Management believes that the allowance for possible losses on commitments and contingencies is adequate.
28. TAXATION a. Taxes payable
2002 2001
Bank Mandiri
Income Taxes:
Employee income tax - Article 21 35,432
26,859 Withholding tax - Article 2326
214,937 313,147
Land and building tax 79
40 Others
36,304 2,250
286,752 342,296
Subsidiaries 9,197
3,913 295,949
346,209
b. Corporate income tax expense
2002 2001
Corporate income tax expense - current: Bank
Mandiri only
- -
Subsidiaries 824
- 824
- Corporate income tax expense - deferred:
Bank Mandiri only 2,187,484
1,104,475 Subsidiaries
35,445 -
2,222,929 1,104,475
2,223,753 1,104,475
As discussed in Note 2w, 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.
PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
-
78
-
28. TAXATION Continued c. Corporate income tax expense - current
The reconciliation between profit before corporate income tax as shown in the statements of profit and loss and income tax computations and the related income tax expense for Bank Mandiri and its
Subsidiaries is as follows:
2002 2001
Consolidated profit before corporate income tax expense and minority
interests 5,809,970
3,850,438 Loss before corporate income tax of subsidiaries
36,897 206
Profit before corporate income tax expense and minority interest - Bank Mandiri only
5,773,073 3,850,232
Adddeduct permanent differences: Non-taxable
incomenon-deductible expenses
141,205 1,535,615
Non-deductible write off of loansnon-taxable adjustment on provision for loan losses
6,292,921 8,532,668
Non-deductible provisionnon-taxable adjustment on provision for losses on earning assets other than loans
181,188 306,102
Non-deductible provisionnon-taxable adjustment on provision for estimated losses on commitments and contingencies
423,723 187,566
Non-taxable Incomenon-deductible loss on investments in mutual funds
- 8,054
Non-taxable gain on investments in shares -
32,727 Others
213,152 566,064
Adddeduct temporary differences: Allowable tax depreciation underover
financial statement
depreciation 205,910
473,600 Financial statement provision for personnel
expenses over under allowable tax provision 7,577
314,925 Financial statement provision for losses on
earning assets other than loans underover allowable tax provision
1,816,005 983,247
Financial statement provision for loans losses underover allowable tax provision
1,111,464 5,097,050
Financial statement provision for losses on commitments and contingencies underover
allowable tax provision 4,073,259
1,725,846 Financial statement provision for losses arising
from legal cases underover allowable tax provision 89,217
155,826 Gain on increase in market value of marketable
securities and Government Bonds 1,433,001
- Others
- 632,011
Estimated tax losstaxable income 6,370,979
4,404,391 Less: Utilization of tax loss carry forwards
- 4,404,391
Corporate income tax expense - current Bank only -
-
