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172
WCT Berhad (66538-K)
annual report 2011
NOTES TO THE FINANCIAL STATEMENTS
31 December 2011
cont’d
40. TAXATION cont’d
A reconciliation of income tax expenses 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 respectively are as follows:
Group
2011 2010
RM'000 RM'000
Profit before taxation 207,538 266,771
Taxation at Malaysian statutory tax rate of 25% (2010: 25%) 51,885 66,693
Effect of zero tax rates in foreign countries (2,448) (33,485)
Effect of share of results of associates (4,111) (3,974)
Income not subject to tax (16,628) (11,181)
Expenses not deductible for tax purposes 15,991 22,574
Deferred tax assets not recognised during the year - 6,379
(Over)/Underprovision of deferred tax in prior years (1,672) 817
Underprovision of income tax in prior years 1,592 126
Tax expense for the financial year 44,609 47,949
Company
Profit before taxation 87,411 29,627
Taxation at Malaysian statutory tax rate of 25% (2010: 25%) 21,853 7,407
Effect of zero tax rates in foreign branches (1,326) (5,732)
Income not subject to tax (18,805) (14,251)
Expenses not deductible for tax purposes 6,030 23,662
(Over)/Underprovision of deferred tax in prior years (809) 764
Underprovision of income tax in prior years 421 146
Tax expense for the financial year 7,364 11,996