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Annual Report 2020
173
Notes to the Financial Statements
As at 31 March 2020
kumpulan Fima Berhad
(197201000167)(11817-V)
11. Income tax expense (cont’d.)
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
2020
RM'000
2019
RM'000
2020
RM'000
2019
RM'000
Profit before tax
51,831
114,885
30,797
54,716
Taxation at statutory tax rate of 24% (2019: 24%)
12,439
27,572
7,392
13,132
Effect of income not subject to tax
(1,529)
(6,147)
(8,952)
(12,349)
Effect of tax rates in foreign jurisdiction
139
415
-
-
Effect of partial tax exemption
(38)
(17)
-
-
Effect of expenses not deductible for tax
purposes
6,669
6,492
1,710
1,150
Effect of share results of associates
(471)
(896)
-
-
Deferred tax assets not recognised in respect
of current year's tax losses and unabsorbed
capital allowances
5,690
2,105
-
-
Under/(over) provision of income tax expense in
prior years
794
(643)
73
(211)
Under/(over) provision of deferred tax in prior
years
670
796
2
(10)
24,363
29,677
225
1,712