BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...
BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...
BiotechCorp Annual Report 2007 - Malaysian Biotechnology ...
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74<br />
13. Tax expense<br />
Reconcilation of effective tax rate / expense<br />
<strong>2007</strong> 2006<br />
% RM % RM<br />
Profit/(Loss) before taxation 360,877 (24,626,083)<br />
Income tax using 27 97,437 (28) (6,895,303)<br />
<strong>Malaysian</strong> tax rates<br />
Tax exemption (27) (97,437) 28 6,895,303<br />
Tax expense - - - -<br />
The Company has been granted a tax exemption on its statutory income under subsection 127 (3A) Income Tax Act 1967<br />
(for all sources of income except for dividend income) for the period of 5 years commencing from year of assessment<br />
2006 to 2010.<br />
14. Operating leases<br />
Leases as lessee<br />
Total future minimum lease payments under non-cancellable operating leases are as follows:<br />
<strong>2007</strong> 2006<br />
RM RM<br />
Less than one year 138,667 187,232<br />
Between one and five years 31,400 43,273<br />
170,067 230,505<br />
The Company leases a number of computer equipment under operating leases. The leases run for a period of three years.<br />
None of the leases include contingent rentals.
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