Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 33 TAX EXPENSE (CONTINUED) The numerical reconciliation between the tax expense and the product of accounting profit multiplied by the statutory tax rate is as follows: Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 (Represented) Profit before tax 218,256 74,883 17,155 4,374 Calculated at the Malaysian tax rate of 24% (2022: 24%) 52,381 17,972 4,117 1,050 Expenses not deductible for tax purposes 38,418 34,595 995 4,507 Income not subject to tax (15,339) (6,247) (5,112) (5,386) Utilisation of previously unrecognised tax losses and unabsorbed capital allowances (15,218) (17,496) - - Current financial year deferred tax assets not recognised 2,700 3,843 - - Recognition of previously unrecognised deferred tax assets - (14,467) - - Reversal of previously recognised deferred tax assets 6,723 - 4,324 - Utilisation of tax incentives (170) (170) - - Effect of different tax rates in other countries (2,049) 10,058 - - Under/(Over) provision in prior financial years 1,209 5,211 341 (45) Share of associates and joint ventures results (1,372) 5,518 - - Others 850 107 - - Tax expense recognised in profit or loss 68,133 38,924 4,665 126 259 Wasco Berhad
RkJQdWJsaXNoZXIy NDgzMzc=