MSTGOLF Annual Report 2024

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 SECTION 4: FINANCIAL PERFORMANCE 188 26. TAX EXPENSE/(INCOME) Group Company 2024 2023 2024 2023 RM ‘000 RM ‘000 RM ‘000 RM ‘000 Current tax:- Current year 4,755 9,047 16 478 Under/(Over) provision in prior years 950 259 (57) - 5,705 9,306 (41) 478 Deferred tax (Note 8):- Current year (472) 450 - 16 (Over)/Under provision in prior years (610) 130 - 5 (1,082) 580 - 21 Tax expense/(income) recognised in profit or loss 4,623 9,886 (41) 499 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 Group and the Company is as follows:- Group Company 2024 2023 2024 2023 RM ‘000 RM ‘000 RM ‘000 RM ‘000 Profit before tax 9,438 27,260 8,310 16,766 Tax at Malaysian income tax of 24% 2,265 6,543 1,994 4,024 Different tax rates in other countries 146 (576) - - Tax effects in respect of:- Non-deductible expenses 2,292 2,828 194 1,307 Income not subject to tax (1,201) (417) (2,172) (4,837) Tax exemption - (86) - - Deferred tax assets not recognised 781 1,205 - - (Over)/Under provision of deferred tax in prior years (610) 130 - 5 Under/(Over) provision of current tax in prior years 950 259 (57) - Tax expense/(income) for the financial year 4,623 9,886 (41) 499

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