PRG Holdings Berhad Annual Report 2020

33. TAXATION (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 2020 Change in the fair value of equity investments at fair value through other comprehensive income (2,422) - (2,422) 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 multiplied by the applicable tax rates of the Group and of the Company are as follows: Group Company 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Tax at Malaysian statutory tax rate of 24% (2019: 24%) (7,783) (16,036) (4,395) (488) Tax effects in respect of: Effects of different tax rates in: - foreign jurisdictions (597) (219) - - Non-allowable expenses 11,846 19,879 5,536 4,290 Tax incentives (444) (22) - - Income not subject to tax (4,039) (4,323) (1,141) (3,802) Deferred tax assets not recognised 2,007 2,453 - - Crystalisation of deferred tax liabilities (10) - - - Effects of gain subject to real property gain tax 754 - - - Deferred tax recognised on previously unrecognised tax losses (564) - - - Utilisation of previously unrecognised deferred tax asset (26) - - - Share of losses of associates 83 426 - - Share of profit of joint ventures (80) (59) - - (Over)/Under provision in prior years: - tax expense (201) 17 (1) - - deferred tax (109) 4 - - 837 2,120 (1) - Annual Report 2020 167 Notes to the Financial Statements 31 December 2020 cont’d