Asia Media Annual Report 2018

108 | P a g e 21. TAX EXPENSES There is no provision for tax expense as the Group and the Company have no chargeable income. A reconciliation of income tax expense applicable to (loss)/profit before tax at the statutory income tax rate to income tax expense at the effective income tax rate of the Group and of the Company are as follows:- Deferred tax assets have not been recognised in respect of the following items: Deferred tax assets have not been recognised in respect of these items as they may not have sufficient taxable profits to be used to offset. However, the above amount is subject to the approval of the Inland Revenue Board of Malaysia. 2018 2017 2018 2017 RM RM RM RM (Loss)/Profit before tax - From continuing operations (26,554,566) 3,010,557 (17,565,828) 1,740,398 - From discontinued operation - (786,383) - - (26,554,566) 2,224,174 (17,565,828) 1,740,398 At Malaysian statutory tax rate of 24% (2017: 24%) (6,373,096) 533,802 (4,215,799) 417,696 Tax effects arising from:- Expensed not deductible for tax purposes 6,531,958 758,523 4,215,799 342,572 Non-taxable income (158,862) (497,835) - (760,268) Utilisation of current year capital allowance - (1,155,057) - - Deferred tax assets not recognised - 360,567 - - Tax expense for the financial year - - - - Group Company 2018 2017 RM RM Unabsorbed capital allowance 106,576,950 106,576,950 Unutilised tax losses 2,401,305 2,401,305 108,978,255 108,978,255 Group