94 MSC BERHAD Notes to the Financial Statements (cont’d) 21. Deferred Tax Liabilities Group Company 2024 2023 2024 2023 RM RM RM RM At 1 January/1 July 2,362,392 1,966,188 2,281,411 1,890,150 Transfer upon corporate reorganisation exercise - - (2,960,429) - Recognised in profit or loss 640,059 396,204 679,018 391,261 At 30 June 3,002,451 2,362,392 - 2,281,411 The net deferred tax assets and liabilities shown on the statements of financial position after appropriate offsetting are as follows: Group Company 2024 2023 2024 2023 RM RM RM RM Deferred tax liabilities 4,150,420 3,666,359 4,431 3,341,250 Deferred tax assets (1,147,969) (1,303,967) (4,431) (1,059,839) 3,002,451 2,362,392 - 2,281,411 The components and movements of deferred tax liabilities and assets are follows: Accelerated capital allowances Others Total Group RM RM RM Deferred tax liabilities 2024 At 1 July 2023 159,078 3,507,281 3,666,359 Recognised in profit or loss 136,577 240,093 376,670 Under provision in prior years 1,461 105,930 107,391 At 30 June 2024 297,116 3,853,304 4,150,420 2023 At 1 January 2022 184,878 2,789,003 2,973,881 Recognised in profit or loss (26,180) 686,985 660,805 Under provision in prior years 380 31,293 31,673 At 30 June 2023 159,078 3,507,281 3,666,359
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