FORGING AHEAD - Tradewinds Plantation Berhad

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FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2010
31. TAX EXPENSE (continued)
Malaysian income tax is calculated at the statutory tax rate of 25% (2009: 25%) of the estimated taxable profits for the
fiscal year.
The subsidiary in Singapore is not liable to Singapore tax as the subsidiary is not a tax residence of Singapore.
The numerical reconciliation between the tax expense and the product of accounting profit multiplied by the applicable tax
rates of the Group and of the Company are as follows:
TRADEWINDS PLANTATION BERHAD
Annual Report 2010
Group Company
2010 2009 2010 2009
RM’000 RM’000 RM’000 RM’000
Tax at Malaysian statutory tax rate of 25% (2009: 25%) 70,602 19,587 9,195 10,156
Tax effect in respect of:
Non-allowable expenses 4,657 4,134 1,616 768
Current year loss and capital allowances not
eligible for carry forward 171 1,111 170 1,110
Deferred tax assets not recognised 3,612 3,408 - -
Non-taxable income - (905) (6,797) (8,159)
Lower tax rates (743) (610) - -
Tax incentive (848) - - -
Share of result of a jointly controlled entity (316) 1,470 - -
77,135 28,195 4,184 3,875
(Over)/Under-provision of tax expense in prior year (2,970) (3,772) 129 (21)
(Over)/Under-provision of deferred tax in prior year (3,713) (470) 19 (2)
Tax expense for the financial year 70,452 23,953 4,332 3,852
In the current and previous financial year, there are no tax savings for the Group and for the Company arising from the
utilisation of current year tax losses and previously unrecognised unused tax losses.