NOTES TO THE FINANCIAL STATEMENTS Cont’d 23. Profit before tax cont’d Note a Certain subsidiaries of the Group were entitled to a wage subsidy programme introduced by the government of Malaysia in response to the Covid-19 pandemic during the previous financial year. Note b The Group or the Company leases a number of properties, machineries and forklifts with contract terms of not more than 1 year. The Group or the Company has elected not to recognise right-of-use assets and lease liabilities for these leases. 24. Tax expense Recognised in profit or loss Group Company 2022 2021 2022 2021 RM’000 RM’000 RM’000 RM’000 Income tax expense 185,287 147,658 26,086 (16,181) Share of tax of equity-accounted associates 12,321 14,115 - - Total income tax expense 197,608 161,773 26,086 (16,181) Major components of income tax expense include: Current tax expense Current year 115,311 32,571 2,046 1,325 Prior year 4,779 25,168 494 51 Total current tax recognised in profit or loss 120,090 57,739 2,540 1,376 Deferred tax expense Origination and reversal of temporary differences 65,095 87,160 23,586 (17,542) Under/(Over) provision in prior year 102 2,759 (40) (15) Total deferred tax recognised in profit or loss (Note 11) 65,197 89,919 23,546 (17,557) Share of tax of equity-accounted associates 12,321 14,115 - - Total income tax expense 197,608 161,773 26,086 (16,181) PRESS METAL ALUMINIUM HOLDINGS BERHAD 271
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