My EG Services Berhad Annual Report 2019

MY E.G. SERVICES BERHAD [Registration No. 200001003034 (505639-K)] 168 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD ENDED 31 DECEMBER 2019 (CONT’D) 41. INCOME TAX EXPENSE The Group The Company 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 RM’000 RM’000 RM’000 RM’000 Current tax: - for the current financial period 2,064 2,474 223 117 - under/(over)provision in the previous financial period 2,063 (146) 2,246 (143) 4,127 2,328 2,469 (26) Deferred tax (Note 33): - for the current financial period (4) 81 - 110 - (over)/underprovision in the previous financial period (50) 94 - - (54) 175 - 110 - reversal of deferred tax assets 710 - - - 656 175 - 110 4,783 2,503 2,469 84 A reconciliation of income tax expense applicable to the profit before taxation at the statutory tax rate to income tax expense at the effective tax rate of the Group and the Company is as follows:- The Group The Company 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 1.10.2018 to 31.12.2019 1.7.2017 to 30.9.2018 RM’000 RM’000 RM’000 RM’000 Profit before taxation 306,939 128,473 268,354 106,293 Tax at the applicable statutory tax rate of 24% 73,665 30,833 64,405 25,510 Tax effects of:- Tax-exempt income (86,321) (82,007) (16) (122) Non-taxable income (869) (4,925) (72,000) (72,000) Non-deductible expenses 9,404 47,518 4,817 38,688 Deferred tax assets not recognised during the financial period 6,491 11,136 3,017 8,151 Utilisation of deferred tax assets previously not recognised (306) - - - Effects of differential in tax rates of a foreign subsidiary (5) - - - Under/(Over)provision in the previous financial period: - current tax 2,063 (146) 2,246 (143) - deferred tax (49) 94 - - Reversal of deferred tax assets 710 - - - 4,783 2,503 2,469 84