Frontken Corporation Berhad 200401012517 (651020-T) • A N N U A L R E P O R T 2 0 2 1 109 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 9. INCOME TAX EXPENSE The Group The Company 2021 2020 2021 2020 RM RM RM RM Estimated current tax payable: Malaysian: - Current year 4,063,625 3,127,435 - - - (Over)/Underprovision in prior years (169,083) 69,571 - - 3,894,542 3,197,006 - - Foreign: - Current year 26,853,769 20,596,072 - - - Underprovision in prior years 2,617,722 1,168,144 - - 29,471,491 21,764,216 - - Withholding tax 1,408,470 985,976 1,408,470 985,976 Real property gain tax (101,313) 141,418 - - 34,673,190 26,088,616 1,408,470 985,976 Deferred tax (Note 15): - Current year 971,378 (153,700) - - 35,644,568 25,934,916 1,408,470 985,976 A reconciliation of income tax expense at the applicable statutory income tax rate to income tax expense at the effective income tax rate is as follows:- The Group The Company 2021 2020 2021 2020 RM RM RM RM Profit before tax 149,866,475 114,252,674 84,278,626 60,125,383 Tax at the applicable tax rate of 24% 35,967,954 27,420,642 20,226,871 14,430,092 Effect of different tax rates of other tax jurisdictions (6,512,169) (5,557,918) - - Tax effects of:- Non-deductible expenses 2,195,985 2,081,813 1,517,041 1,403,905 Income not subject to tax (12,411) (740,702) (21,743,912) (15,833,997) Utilisation of deferred tax assets previously not recognised - (41,000) - - Income tax exemption (95,727) (128,272) - - Taxable income subjected at regular income tax rate 248,064 397,296 - - Deferred tax assets not recognised for the year 97,076 137,948 - - Underprovision of current tax in prior years 2,448,639 1,237,715 - - Withholding tax 1,408,470 985,976 1,408,470 985,976 Real property gain tax (101,313) 141,418 - - Income tax expense 35,644,568 25,934,916 1,408,470 985,976 Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2020 - 24%) of the estimated assessable profit for the financial year. The taxation of other jurisdictions is calculated at the rates prevailing in the respective jurisdiction.
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