TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
TANJUNG OFFSHORE BERHAD
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NOTES TO THE FINANCIAL STATEMENTS<br />
31 DECEMBER 2009<br />
24. TAXATION<br />
99<br />
<strong>TANJUNG</strong> <strong>OFFSHORE</strong> <strong>BERHAD</strong> (662315-U)<br />
ANNUAL REPORT 2009<br />
GROUP COMPANY<br />
2009 2008 2009 2008<br />
RM RM RM RM<br />
Current year provision 1,386,453 2,976,000 145,923 300,000<br />
Under/(Over) provision in previous year 587,940 (91,288) - -<br />
1,974,393 2,884,712 145,923 300,000<br />
Deferred tax relating to the origination and<br />
reversal of temporary differences (Note 9) (1,404,913) (721,000) - -<br />
569,480 2,163,712 145,923 300,000<br />
Share of taxation of associate company 588,690 613,302 - -<br />
Tax expense for the year 1,158,170 2,777,014 145,923 300,000<br />
A reconciliation of income tax expense applicable to profi t before taxation at the statutory income tax rate to income tax<br />
expense at the effective income tax rate of the Group and of the Company is as follow:<br />
GROUP COMPANY<br />
2009 2008 2009 2008<br />
RM RM RM RM<br />
Profi t before taxation 4,774,584 34,225,442 12,700,575 5,189,253<br />
Taxation at Malaysian statutory tax rate<br />
of 25% (2008: 26%) 1,193,646 8,898,615 3,175,144 1,349,206<br />
Tax effect on expenses that are not<br />
deductible for tax purposes 15,128,016 8,450,798 389,529 315,794<br />
Utilisation of capital allowances (11,516,459) (13,008,413) - -<br />
Recognition of deferred tax assets (1,404,913) (721,000) - -<br />
Income not subject to tax (3,418,750) (1,365,000) (3,418,750) (1,365,000)<br />
Under/(Over) provision in previous year 587,940 (91,288) - -<br />
569,480 2,163,712 145,923 300,000<br />
Share of taxation of associate company 588,690 613,302 - -<br />
Income tax expense for the year 1,158,170 2,777,014 145,923 300,000
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