Amtel Holdings Berhad - Company Announcements - Bursa Malaysia

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NOTES TO THE FINANCIAL STATEMENTS (Cont’d)
26. PROFIT/(LOSS) BEFORE TAXATION (CONT’D)
b) Employees Information
27. TAXATION
GROUP COMPANY
2003 2002 2003 2002
RM RM RM RM
Staff costs 4,921,361 4,573,275 604,907 254,742
The number of employees including full time Directors of the Group and of the Company as at financial
year end were 178 (2002 : 211) and 5 (2002 : 3) respectively.
GROUP COMPANY
2003 2002 2003 2002
RM RM RM RM
Based on results for the year 183,973 418,942 - -
Transfer from deferred tax assets (note 8) 70,000 178,000 - -
Transfer from deferred tax liabilities (note 23) (52,214) (21,651) - -
17,786 156,349 - -
201,759 575,291 - -
Underprovision/(Overprovision) in prior year 94,054 63,500 8,320 (11,490)
Share of taxation of associated companies
Current year share of taxation 364,094 520,630 - -
Prior year adjustment - of deferred tax asset - (5,203) - -
364,094 515,427 - -
659,907 1,154,218 8,320 (11,490)
Effective from Year of Assessment 2003, the Malaysian government enacted a change in the statutory tax rate
from 28% to 20%, for companies with paid-up share capital of RM2.5 million and below at the beginning of the
basis period of chargeable income of up to RM100,000/-. For chargeable income in excess of RM100,000/-,
statutory tax at the rate of 28% is still applicable.
Reconciliation of tax expense and accounting profit:-
GROUP COMPANY
2003 2002 2003 2002
RM RM RM RM
Accounting profit/(loss) 254,533 2,976,783 (1,116,824) (273,815)
Tax at the Malaysia statutory income tax rate of:-
- first RM100,000/- at 20% 20,000 - - -
- balance at 28% 43,269 833,499 (312,700) (76,700)
Balance carried down 63,269 833,499 (312,700) (76,700)
Amtel Holdings Berhad 2003 annual report