MSM Malaysia Holdings Berhad Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 14 TAXATION – CONTINUING OPERATIONS Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 (Restated) (Restated) Current tax 14,579 15,715 3,057 2,148 Under/(over) accrual in prior financial year (1,176) 2,703 (1,758) 1,081 13,403 18,418 1,299 3,229 Deferred tax (Note 32) (24,477) 9,091 74 (546) (11,074) 27,509 1,373 2,683 The numerical reconciliation of the relationship between taxation and (loss)/profit before taxation after zakat is as follows: Group Company 2019 2018 2019 2018 RM’000 RM’000 RM’000 RM’000 (Restated) (Restated) (Loss)/Profit before taxation after zakat (299,564) 64,886 (357,283) (419,958) Tax at Malaysian tax rate of 24% (2018: 24%) (71,895) 15,573 (85,748) (100,790) Tax effects of: - expenses not deductible for tax purposes 10,582 10,290 104,416 105,901 - income not subject to tax (126) (1,057) (15,791) (3,134) - under/(over) accrual in prior financial year (1,176) 2,703 (1,758) 1,081 - temporary differences not recognised 50,943 - - - - temporary differences in respect of prior years 598 - 254 (375) (11,074) 27,509 1,373 2,683 MSM Malaysia Holdings Berhad | Annual Report 2019 164