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Notes to the
Financial Statements
As at 31 March 2019
10. Income tax expense
Major components of income tax expense
The major components of income tax expense for the years ended 31 March 2019 and 2018 are:
Group
Company
2019
2018
2019
2018
RM’000
RM’000
RM’000
RM’000
Current income tax:
- Malaysian income tax
28,681
29,973
2,132
1,954
- Underprovision in prior years
(643)
(149)
(211)
(23)
28,038
29,824
1,921
1,931
Deferred tax (Note 30):
Relating to origination and reversal of
temporary differences
843
1,277
(199)
-
Under/(over) provision in prior years
796
399
(10)
(213)
1,639
1,676
(209)
(213)
Total income tax expense
29,677
31,500
1,712
1,718
Reconciliation between tax expense and accounting profit
A reconciliation of income tax expense applicable to profit before tax at the statutory income tax rate to
income tax expense at the effective income tax rate of the Group and of the Company is as follows:
Group
Company
2019
2018
2019
2018
RM’000
RM’000
RM’000
RM’000
Profit before tax
114,885
78,135
54,716
42,697
Taxation at statutory tax rate of 24% (2018: 24%)
27,572
18,752
13,132
10,248
Effect of income not subject to tax
(6,147)
(63)
(12,349)
(10,499)
Effect of tax rates in foreign jurisdiction
415
3,029
-
-
Effect of partial tax exemption
(17)
(41)
-
-
Effect of expenses not deductible for tax
purposes
6,492
6,351
1,150
2,205
Effect of utilisation of previously
unrecognised deferred tax
-
(244)
-
-
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
152