SCC Holdings Berhad Annual Report 2018

SCC Holdings Berhad | Annual Report 2018 .71 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2018 (CONT’D) 23. Taxation Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Tax expenses recognised in profit or loss Malaysian statutory tax: - Current tax provision 2,686 2,298 - 7 - (Over)/Under provision in prior years (176) 102 (8) 1 2,510 2,400 (8) 8 Deferred tax - Origination and reversal of temporary differences - (41) - - - (Over)/Under provision in prior years (108) 164 - - (108) 123 - - 2,402 2,523 (8) 8 Malaysian income tax is calculated at the statutory tax rate of 24% (2017: 24%) of the estimated assessable profits for the financial year. A reconciliation of income tax expenses applicable to profit before taxation at the statutory tax rate to income tax expenses at the effective tax rate of the Group and of the Company is as follows: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Profit before taxation 9,551 8,573 4,746 4,950 At Malaysian statutory tax rate of 24% (2017: 24%) 2,292 2,058 1,139 1,188 Expenses not deductible for tax purposes 390 247 43 43 Income not subject to tax (160) (100) (1,327) (1,273) Deferred tax assets not recognised during the financial year 164 52 145 49 (Over)/Under provision of taxation in prior years (176) 102 (8) 1 (Over)/Under provision of deferred taxation of prior years (108) 164 - - 2,402 2,523 (8) 8