37. TAX EXPENSE (CONTINUED) As per Finance Act 2021 gazetted on 31 December 2021, effective for Year of Assessment (“YA”) 2022, a special oneoff tax (“Cukai Makmur”) was introduced on companies with chargeable income in excess of RM100.0 million. The excess is taxed at a rate of 33% (first RM100.0 million of chargeable income will be taxed at 24%). Tax expenses for YA 2022 above have been computed based on tax rates as described accordingly. A reconciliation of effective tax expense for the Group and the Bank are as follows: Group Bank 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Profit before tax 746,829 746,866 828,248 754,392 Income tax calculated using Malaysian tax rate of 24% 179,239 179,248 198,780 181,054 Income not subject to tax (2,921) (5,154) (21,805) (4,897) Non-deductible expenses 6,858 6,355 5,800 3,852 Impact of Cukai Makmur – 63,818 – 63,818 Zakat (3,200) (3,191) (3,173) (3,197) Deferred tax assets not recognised 131 249 – – Under/(Over) provision in prior years 2,128 187 2,184 (261) 182,235 241,512 181,786 240,369 38. EARNINGS PER SHARE Basic earnings per share are calculated based on the net profit attributable to equity holders of the Group of RM553,050,000 (2022: RM491,672,000) and the weighted average number of ordinary shares outstanding during the year of 2,250,931,281 (2022: 2,150,918,615). The Group has no dilution in its earnings per ordinary shares in the current and previous financial year as there are no dilutive potential ordinary shares. 345 1 2 3 4 5 6 7 8 9 www.bankislam.com FINANCIAL STATEMENTS
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