Financial Statements Notes to the Financial Statements 28. INCOME TAX EXPENSE Group Company 2024 2023 2024 2023 Note RM’mil RM’mil RM’mil RM’mil Current tax expense Current year 669 566 2 2 Under/(over) provided in prior years 10 (1) (1) 1 679 565 1 3 Deferred tax (credit)/expense Origination and reversal of temporary differences (77) 87 – – (Over)/under provided in prior years (8) 6 – – 11 (85) 93 – – 594 658 1 3 Reconciliation of income tax expense Group Company 2024 2023 2024 2023 RM’mil RM’mil RM’mil RM’mil Profit before tax 3,756 4,049 1,121 1,374 Less: Share of profits of associates (net of tax) (26) (25) – – Share of profits of joint ventures (net of tax) (3) (1) – – 3,727 4,023 1,121 1,374 Income tax calculated using Malaysia tax rate of 24% (2023: 24%) 894 966 269 330 Effect of tax rates in foreign jurisdictions (200) (99) – – Effect of change in tax rates 14 (21) – – Tax exempt income (278) (321) (292) (352) Tax incentive (1) (3) – – Non-deductible expenses 173 80 25 24 Recognition of deferred tax assets (93) (57) – – Deferred tax assets not recognised 67 81 – – Under/(over) provided in prior years 1 5 (1) 1 Foreign taxation 17 27 – – 594 658 1 3 IHH Healthcare Berhad | Annual Report 2024 182
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