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Gamuda Berhad (29579-T) • Annual Report 2012
9.
Taxation (cont’d.)
A reconciliation of income tax expense applicable to profit before taxation 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:
2012
2011
RM’000
RM’000
Group
Profit before taxation
728,210
544,524
Taxation at Malaysian statutory tax rate of 25% (2011: 25%)
182,053
136,131
Effect of different tax rates in other countries
3,865
4,133
Income not subject to tax
(5,374)
(8,298)
Expenses not deductible for tax purposes
24,460
24,164
Effects of share of profits of associated companies
(51,533)
(55,607)
Utilisation of previously unrecognised tax losses and unabsorbed capital allowances
(71)
(574)
Deferred tax assets not recognised in respect of current year’s tax losses,
unabsorbed capital allowances and other deductible temporary differences
956
5,491
(over)/under provision of deferred tax in prior years
(94)
36
Under provision of income tax in prior years
7,957
6,103
Tax expense for the year
162,219
111,579
2012
2011
RM’000
RM’000
Company
Profit before taxation
380,945
309,824
Taxation at Malaysian statutory tax rate of 25% (2011: 25%)
95,236
77,456
Income not subject to tax
(44,606)
(30,692)
Expenses not deductible for tax purposes
17,504
8,410
overprovision of deferred tax in prior years
(281)
(245)
Underprovision of income tax in prior years
7,335
6,496
Tax expense for the year
75,188
61,425
NoTES To ThE FINANCIAL STATEMENTS
31 July 2012