PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5112 29. TAXATION continued
d. Tax expense - Deferred
The reconciliation between estimated income tax expense, calculated using applicable tax rates based on commercial income before tax expense, with estimated income tax expense as reported
in the consolidated statements of income for the years ended 31 December 2011 and 2010 are as follows:
2011 2010
Consolidated income before tax expense and non-controlling interests
16,512,035 13,972,162
Less: Income before tax expense of Subsidiaries -
after elimination 1,003,303
460,469 Impact of changes in presenting investment in Subsidiaries
by using cost method previously equity method refer to Note 2b.vi 869,011
-
Income before tax expense and non-controlling interests- Bank Mandiri only
14,639,721 13,511,693
Estimated income tax expense based on applicable tax rates
2,927,944 3,377,923
Tax effect permanent differences: Non-deductible expenses non-taxable income
335,098 139,360
Provision for decrease in deferred tax assets -
1,040,280 Losses from overseas branches
126 13,012
Others 480
1,540 334,744
915,472
Income tax expense - Bank Mandiri only 3,262,688
4,293,395 Income tax expense - Subsidiaries
553,462 309,541
Tax expense - consolidated 3,816,150
4,602,936 Less: Current tax expense - consolidated
3,172,540 3,026,466
Deferred tax expensesbenefit - consolidated 643,610
1,576,470
In calculating estimated tax expense for the year ended 31 December 2010, the Bank still applied equity method to record investment in Subsidiaries refer to Note 2b.vi.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5113 29. TAXATION continued
e. Deferred tax assets - net
Deferred tax arises from temporary differences between book value based on commercial and tax calculation are as follows:
2011 Beginning
balance Credited
charged to consolidated
statement of income
Charged to equity
Realisation of provision
for decrease in value
Ending balance
Bank Mandiri Deferred tax assets:
Loans write- off until 2008 2,536,635
145,969 -
507,327 1,883,339
Allowance for impairment loan losses 1,061,120
239,319 -
212,224 609,577
Allowance for impairment losses on financial assets other than loans
672,978 234,167
- 134,596
304,215 Provision for post-employment benefit expense, provision
for bonuses, leave and holiday THR entitlements 626,272
38,961 -
125,254 539,979
Allowance for estimated losses arising from legal cases 143,670
50 -
28,734 114,886
Allowance for possible losses on other assets 40,365
32,292 -
8,073 -
Estimated losses on commitments and contingencies 92,016
27,280 -
18,403 46,333
Allowance for possible losses on abandoned properties 43,937
1,210 -
8,787 33,940
Allowance for possible losses on repossessed assets 29,977
21,690 -
5,995 2,292
Accumulated losses arising from difference in net realisable value of abandoned properties
2,587 -
- 518
2,069 Accumulated losses arising from difference in
net realisable value of repossessed assets 2,532
53 -
506 1,973
Unrealised losses on increasedecrease in fair value of marketable securities and
Government Bonds available for sale 126,624
- 29,786
25,326 131,084
Deferred tax assets 5,378,713
663,069 29,786
1,075,743 3,669,687
Deferred tax liabilities: Unrealised gainlosses on increasedecrease in
fair value of marketable securities and government bonds fair value through profit or loss
27,235 19,268
- 5,447
2,520 Net book value of fixed assets
23,450 220
- 4,690
18,540
Deferred tax assets - Bank Mandiri only 5,328,028
643,581 29,786
1,065,606 3,648,627
Provision for decrease in deferred tax assets 1,065,606
-
Net deferred tax assets - Bank Mandiri only 4,262,422
3,648,627
Net deferred tax assets - Subsidiaries 138,666
151,785 Total consolidated deferred tax assets - net
4,401,088 3,800,412
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5114 29. TAXATION continued
e. Deferred tax assets - net continued
