MSM Malaysia Holdings Berhad Annual Report 2020

13 ZAKAT – CONTINIUING OPERATION Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Movement in zakat liability: At beginning of financial year - - - - Current financial year’s zakat expense 1,486 14 - - Zakat paid (1,486) (14) - - At the end of financial year - - - - 14 TAXATION – CONTINUING OPERATIONS Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Current tax 34,060 14,579 2,236 3,057 Under/(over) accrual in prior financial year 490 (1,176) 301 (1,758) 34,550 13,403 2,537 1,299 Deferred tax (Note 32) (4,052) (24,477) (89) 74 30,498 (11,074) 2,448 1,373 The numerical reconciliation of the relationship between taxation and profit/(loss) before taxation after zakat is as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Profit/(Loss) before taxation after zakat 34,361 (299,564) 49,766 (357,283) Tax at Malaysian tax rate of 24% (2019: 24%) 8,247 (71,895) 11,944 (85,748) Tax effects of: - expenses not deductible for tax purposes 8,621 10,582 9,770 104,416 - income not subject to tax (4,715) (126) (19,567) (15,791) - under/(over) accrual in prior financial year 490 (1,176) 301 (1,758) - temporary differences not recognised 17,546 50,943 - - - temporary differences in respect of prior years 309 598 - 254 30,498 (11,074) 2,448 1,373 MSM MALAYSIA HOLDINGS BERHAD Annual Repor t 2020 182 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020 CHAIRMAN’S STATEMENT DELIVERING VALUE MSM OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS GROUP FINANCIAL REPORT