Annual report 2014
129
NOTES TO THE FINANCIAL STATEMENTS
31 December 2014 (continued)
29. TAXATION
Group
Company
2014
2013
2014
2013
Note RM
RM
RM
RM
Current tax expense based on profit
for the financial year:
Malaysia income tax
1,968,654
-
-
-
Foreign income tax
1,672,853
-
87,886
-
Under/(Over)provision in prior years
168,048
(153,034)
-
(121,757)
3,809,555
(153,034)
87,886
(121,757)
Withholding tax
33,676
23,779
13,231
12,236
Deferred tax:
14
Relating to origination and reversal of
temporary differences
909,360 (2,201,516)
(278,293)
(780,552)
(Over)/Underprovision in prior years
(2,169)
445,644
-
251,372
907,191 (1,755,872)
(278,293)
(529,180)
Taxation for the financial year
4,750,422 (1,885,127)
(177,176)
(638,701)
(a) The Malaysian income tax is calculated at the statutory tax rate of twenty-five percent (25%) (2013:
25%) of the estimated taxable profits for the fiscal year.
(b) Taxation for other taxation authorities are calculated at the rates prevailing in those respective
jurisdictions.
(c) The numerical reconciliation between the taxation and the product of accounting profit multiplied by
the applicable tax rates of the Group and of the Company are as follows:
Group
Company
2014
2013
2014
2013
RM
RM
RM
RM
Tax at Malaysian statutory tax rate of
25% (2013: 25%)
2,780,420
820,050 2,495,953
(261,356)
Tax effects in respect of:
Tax incentive
(1,148,647)
(704,987)
-
-
Non-allowable expenses
2,071,660
22,596
956,165 1,860,461
Non-taxable income
(571,984)
(343,592) (4,131,717) (2,367,421)
Deferred tax not recognised
1,206,992 1,301,618
502,423
-
Different tax rate in foreign jurisdiction
246,102
-
-
-
Utilisation of previously unrecognised
tax losses and allowances
-
(3,273,422)
-
-
4,584,543 (2,177,737)
(177,176)
(768,316)
