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financiAL STATEMENTs
Annual Report 2017
121
NOTES TO THE FINANCIAL STATEMENTS
9.
INCOME TAX EXPENSE
Major components of income tax expense
The major components of income tax expense for the years ended 31 March 2017 and 2016 are:
Group
Company
2017
2016
2017
2016
RM’000
RM’000
RM’000
RM’000
Current income tax:
- Malaysian income tax
28,890
24,889
699
896
- Under provision in prior years
1,402
846
-
3
30,292
25,735
699
899
Deferred tax (Note 26):
- Relating to reversal and origination
of temporary differences
(4,814)
(1,690)
(25)
(70)
- Relating to changes in tax rates
-
183
-
21
- Under/(over) provision in prior years
776
(1,800)
24
38
(4,038)
(3,307)
(1)
(11)
Total income tax expense
26,254
22,428
698
888
Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2016: 24%) of the estimated assessable profit for
the year. The corporate rate tax applicable to the Indonesian subsidiary of the Group is 25% (2016: 25%).
A reconciliation of income tax expense applicable to profit before tax at the statutory income tax rate to income tax expense at
the effective income tax rate of the Group and of the Company is as follows:
Group
Company
2017
2016
2017
2016
RM’000
RM’000
RM’000
RM’000
Group
Profit before tax
61,261
77,300
22,236
47,415
Taxation at Malaysian statutory tax rate of 24% (2016: 24%)
14,703
18,489
5,336
11,380
Effect of tax rates in foreign jurisdiction
1,153
812
-
-
Effect of changes in tax rates on
opening balance of deferred tax
-
183
-
21
Effect of expenses not deductible for tax purposes
8,805
3,961
740
756
Effect of partial tax exemption
(32)
(34)
-
-
Deferred tax assets not recognised
92
343
-
-
Effect of share of results of associates
(645)
(372)
-
-
Income not subject to tax
-
-
(5,402)
(11,310)
Under/(over) provision of deferred tax in prior year
776
(1,800)
24
38
Under provision of income tax expense in prior year
1,402
846
-
3
26,254
22,428
698
888