201 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD Registration No: 199301009307 (264044-M) 63 24. TAX EXPENSE (CONT’D) A reconciliation of income tax expense applicable to profit before tax at the statutory income tax rate to tax expense at effective income tax rate of the Company is as follows:- Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Profit before tax 27,260 38,841 16,766 16,045 Tax at Malaysian income tax of 24% 6,543 9,322 4,024 3,851 Different tax rates in other countries (576) (752) - - Tax effects in respect of:- Non-deductible expenses 2,828 1,779 1,307 10 Income not subject to tax (417) (1,327) (4,837) (4,057) Tax exemption (86) (55) - - Deferred tax assets not recognised 1,205 1,147 - 196 Underprovision of deferred tax in prior years 130 107 5 - Under/(Over) provision of current tax in prior years 259 (495) - - Tax expense for the financial year 9,886 9,726 499 - 25. EMPLOYEE BENEFITS EXPENSE Group Company 2023 2022 2023 2022 RM’000 RM’000 RM’000 RM’000 Salaries, bonuses and allowances 43,358 34,182 7,252 5,871 Directors’ fee 222 47 222 47 Defined contribution plan 5,147 4,039 877 712 Social security contributions 665 342 47 35 Other benefits 5,145 3,594 -* - 54,537 42,204 8,398 6,665
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