PRG Holdings Berhad Annual Report 2019
ANNUAL REPORT 2019 169 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 cont’d 31. TAX EXPENSE (continued) Tax on each component of other comprehensive income is as follows (continued): Company Before tax Tax effect After tax RM’000 RM’000 RM’000 2019 Change in the fair value of equity investments at fair value through other comprehensive income (21,875) - (21,875) Tax expense for other taxation authorities are calculated at the rates prevailing in those respective jurisdictions. The numerical reconciliations between the tax expense and the product of accounting (loss)/profit multiplied by the applicable tax rates of the Group and of the Company are as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 (Restated) Tax at Malaysian statutory tax rate of 24% (2018: 24%) (16,036) (3,031) (488) 233 Tax effects in respect of: Effects of different tax rates in: - foreign jurisdictions (219) (524) - - Non-allowable expenses 19,879 5,940 4,290 1,572 Tax incentives (22) (47) - - Income not subject to tax (4,323) (2,088) (3,802) (1,805) Deferred tax assets not recognised 2,453 809 - - Share of losses of associates 426 280 - - Share of profit of joint ventures (59) (38) - - Under/(Over)-provision in prior years: - tax expense 17 115 - 9 - deferred tax 4 (142) - - 2,120 1,274 - 9
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