182 MKH BERHAD | ANNUAL REPORT 2023 8. TAX EXPENSE (CONT’D) As mentioned in Note 3, the tax effects of deductible temporary differences, unused tax losses and unused tax credits which would give rise to net deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the deductible temporary differences, unused tax losses and unused tax credits can be utilized. As of 30 September 2023, the estimated amount of deductible temporary differences, unused tax losses and unused tax credits, for which the net deferred tax assets are not recognized in the financial statements due to uncertainty of realisation, are as follows: The Group 2023 2022 RM RM Unused tax losses 54,801,904 45,328,275 Unabsorbed capital allowances 116,037 109,165 Other temporary differences 264,135,941 255,584,466 319,053,882 301,021,906 The Finance Act 2021 gazetted on 31 December 2021 enacted that any accumulated tax losses brought forward from the year of assessment 2018 can be carried forward for another 10 consecutive years of assessment. Upon expiry of the 10 years, the unused tax losses will be disregarded. Business loss incurred in year of assessment RM Carried forward up to YA Unutilised amount will be disregarded in YA 2018 18,577,970 2028 2029 2019 8,349,771 2029 2030 2020 3,590,344 2030 2031 2021 5,626,551 2031 2032 2022 3,411,955 2032 2033 2023 6,139,495 2033 2034 45,696,086 Under the Indonesia tax regulations, the unused tax losses can be utilized within 5 years after the losses were incurred. Business loss incurred in year of assessment RM Carried forward up to YA Unutilised amount will be disregarded in YA 2018 5,611,938 2023 2024 2023 3,493,880 2028 2029 9,105,818 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
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