FRONTKEN CORPORATION BERHAD 200401012517 (651020-T) ANNUAL REPORT 2024 84 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 9. INCOME TAX EXPENSE The Group The Company 2024 2023 2024 2023 RM RM RM RM Estimated current tax payable: Malaysian: - Current year 5,362,714 6,005,366 46,000 70,000 - (Over)/Underprovision in prior years (83,634) 85,931 (6,425) 48,729 5,279,080 6,091,297 39,575 118,729 Foreign: - Current year 35,915,258 30,434,759 - - - Underprovision in prior years 2,477,762 726,834 - - 38,393,020 31,161,593 - - Withholding tax 3,360,635 5,613,743 3,360,635 5,613,743 47,032,735 42,866,633 3,400,210 5,732,472 Deferred tax (Note 16): - Current year 315,536 (139,485) - - 47,348,271 42,727,148 3,400,210 5,732,472 A reconciliation of income tax expense applicable to the pro t before taxation 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: The Group The Company 2024 2023 2024 2023 RM RM RM RM Pro t before tax 198,429,739 167,066,248 42,085,741 56,876,626 Tax at the applicable tax rate of 24% 47,623,137 40,095,900 10,100,578 13,650,390 Effect of different tax rates of other tax jurisdictions (8,407,600) (6,611,389) - - Tax effects of: Non-deductible expenses 3,001,526 3,085,782 2,452,923 2,077,733 Income not subject to tax (299,346) (267,287) (12,507,501) (15,658,123) Utilisation of deferred tax assets previously not recognised (304,796) (54,330) - - Income tax exemption (418,598) (187,586) - - Taxable income subjected at regular income tax rate 399,185 239,550 - - Under/(Over)provision of current tax in prior years 2,394,128 812,765 (6,425) 48,729 Withholding tax 3,360,635 5,613,743 3,360,635 5,613,743 47,348,271 42,727,148 3,400,210 5,732,472 Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2023: 24%) of the estimated assessable pro t for the nancial year. The taxation of other jurisdictions is calculated at the rates prevailing in the respective jurisdiction.
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