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
147
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
148
33. 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.
