Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 337 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 24. DEFERRED TAX (CONTD.) Deferred tax assets have not been recognised in respect of the following items: Malaysian Companies Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Unutilised tax losses 169,930 167,576 23,715 23,715 Unabsorbed capital allowances 17,669 22,433 13,769 13,769 Others 30,904 32,457 11,583 10,289 218,503 222,466 49,067 47,773 Deferred tax benefit at 24%, if recognised 52,441 53,392 11,776 11,465 Deferred tax assets have not been recognised in respect of these items for certain subsidiary companies as it is not probable that taxable profits of the subsidiary companies would be available against which the unutilised tax losses, unabsorbed capital allowances and other deductible temporary differences could be utilised. The unabsorbed capital allowance of the Group are available indefinitely for offsetting against future taxable profits of the respective entities within the Group, subject to no substantial changes in shareholdings of those entities under the Income Tax Act, 1967 and guidelines issued by the tax authority. Effective from Year of Assessment 2019, unused tax losses are allowed to be carried forward for a maximum period of ten years. The details of the expiry of the Group’s and the Company’s unutilised tax losses are as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 - Expires in 2028 36,253 39,968 - - - Expires in 2029 36,511 36,835 23,715 23,715 - Expires in 2030 18,848 27,069 - - - Expires in 2031 40,203 45,395 - - - Expires in 2032 22,650 18,309 - - - Expires in 2033 15,465 - - - 169,930 167,576 23,715 23,715 The foreign unutilised losses and unabsorbed capital allowances applicable to foreign incorporated subsidiary companies, if any, are pre-determined by and subject to the tax legislations of the respective countries.
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