155
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
30. TAX EXPENSE
Group
Company
2016
RM’000
2015
RM’000
2016
RM’000
2015
RM’000
Current tax expense based on profit for the financial year:
Malaysian income tax
11,132
16,486
153
283
Foreign income tax
3,871
5,604
-
-
15,003
22,090
153
283
(Over)/Under provision in prior years:
Malaysian income tax
(857)
240
(12)
(2)
Foreign income tax
345
(215)
-
-
(512)
25
(12)
(2)
14,491
22,115
141
281
Deferred tax (Note 13)
Relating to origination and reversal of temporary differences
1,206
(918)
(11)
-
Under provision in prior years
244
713
-
-
1,450
(205)
(11)
-
15,941
21,910
130
281
The Malaysian income tax is calculated at the statutory tax rate of 24% (2015: 25%) of the estimated taxable profits for the fiscal year.
Tax expense for other taxation authorities are calculated at the rates prevailing in those respective jurisdictions.
The numerical reconciliation between the tax expense and the product of accounting profit multiplied by the applicable tax rates of the
Group and of the Company are as follows:
Group
Company
2016
RM’000
2015
RM’000
2016
RM’000
2015
RM’000
Profit before tax
45,939
72,706
9,246
10,402
Tax at Malaysian statutory tax rate of 24% (2015: 25%)
11,025
18,177
2,219
2,601
Tax effects in respect of:
Non-allowable expenses
4,188
5,053
2,806
2,128
Non-taxable income
(448)
(865)
(4,883)
(4,446)
Lower tax rates in foreign jurisdiction
(235)
(931)
-
-
Deferred tax assets not recognised
2,495
246
-
-
Tax incentive and allowances
(764)
(475)
-
-
Utilisation of previously unrecognised tax losses
(52)
(33)
-
-
16,209
21,172
142
283
(Over)/Under provision of income tax in prior years
(512)
25
(12)
(2)
Under provision of deferred tax in prior years
244
713
-
-
15,941
21,910
130
281
