Registration No. 200301030845 (633265-K) - 117 - 31. Taxation (Cont’d) A reconciliation of income tax (credit)/expense applicable to (loss)/profit before tax at the statutory income tax rate to income tax (credit)/expense at the effective income tax rate of the Group and of the Company is as follows: 2022 2021 2022 2021 RM RM RM RM (Loss)/Profit before tax (33,157,080) 5,264,629 (177,847,565) (12,126,548) Taxation at statutory tax rate of 24% (7,957,699) 1,263,511 (42,683,416) (2,910,372) Effects of tax rates in other countries 413,568 580,416 - - Income not subject to tax (1,197,015) (1,736,224) (10,368) (4,176) Expenses not deductible for tax purposes 7,912,329 858,253 1,685,863 754,134 Utilisation of previously unrecognised deferred tax assets (1,634,998) (4,625,196) - - Deferred tax assets not recognised 2,272,970 3,782,285 41,007,921 2,160,414 Underprovision of deferred tax in prior year 453,857 - - - (Over)/Underprovision of income tax expense in prior years (589,881) 2,677,079 (341,969) 928,577 (326,869) 2,800,124 (341,969) 928,577 Group Company The Group and the Company have the following unutilised tax losses and unabsorbed capital allowances available to carry forward to offset against future taxable profits. The said amounts are subjected to approval by the tax authorities. 2022 2021 2022 2021 RM RM RM RM Unutilised tax losses 146,147,229 145,370,300 102,975,331 23,175,909 Unabsorbed capital allowances 13,397,907 14,291,126 500,581 326,311 159,545,136 159,661,426 103,475,912 23,502,220 Group Company 195 ANNUAL REPORT 2022 DESTINI BERHAD
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