Yinson Annual Report 2018

13. INCOME TAX EXPENSE (CONTINUED) Reconciliation between tax expense and accounting profit: The reconciliation between tax expense and the product of accounting profit multiplied by the applicable tax rates for the financial years ended 31 January 2018 and 2017 are as follows: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Profit before tax from continuing operations 361,770 213,179 87,791 146,167 Profit before tax from discontinued operations – 2,889 – – Profit before tax 361,770 216,068 87,791 146,167 Tax at Malaysian statutory tax rate of 24% (2017: 24%) 86,825 51,857 21,070 35,080 Income not subject to tax (6,591) (1,909) (27,684) (48,095) Expenses not deductible for tax purposes 54,568 37,743 6,898 13,219 Different tax rates of subsidiaries (54,908) (35,367) – – Changes in deferred tax asset not recognised 231 2,704 – – Shared of results of joint ventures and associates (10,437) (19,922) – – Under/(over) provision of tax expense in prior years 9 (15,899) 122 – Under provision of deferred tax in prior years - Continuing operations – 2 – – - Discontinued operations – 104 – – Income tax expense recognised in profit or loss 69,697 19,313 406 204 Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2017: 24%) of the estimated assessable profit for the financial year. Taxation for other jurisdictions are calculated at the rates prevailing in the respective jurisdictions. The above reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction. Corporate Overview Stewardship Governance Accountability 137 Yinson Holdings Berhad Annual Report 2018