Utusan Melayu (Malaysia) Bhd - Announcements
Utusan Melayu (Malaysia) Bhd - Announcements
Utusan Melayu (Malaysia) Bhd - Announcements
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Notes T O T HE A CCOUNTS for the year ended 31 December 1999<br />
5. TAXATION<br />
The Group The Company<br />
1999 1998 1999 1998<br />
RM RM RM RM<br />
Taxation based on the result for the year:-<br />
<strong>Malaysia</strong>n income tax — 1,744,526 372,112 375,000<br />
Transfer from deferred taxation (101,000) (25,000) — —<br />
(101,000) 1,719,526 372,112 375,000<br />
Under/(over) provision in prior years:-<br />
Income tax (83,553) (140,220) — —<br />
Deferred taxation — 83,000 — —<br />
(83,553) (57,220) — —<br />
(184,553) 1,662,306 372,112 375,000<br />
Share of associated companies’ taxation (131,173) 659,440 — —<br />
(315,726) 2,321,746 372,112 375,000<br />
(a) The taxation charge for the Company for the financial year is in respect of dividend income.<br />
(b) No provision has been made for <strong>Malaysia</strong>n income tax in respect of business income earned by the Company for the<br />
financial year ended 31 December 1999 pursuant to Section 8 of the Income Tax (Amendment) Act 1999.<br />
(c) The Company has sufficient tax credit under Section 108 of the Income Tax Act, 1967 to frank the payment of dividends<br />
out of all its distributable reserves as at 31 December 1999.<br />
(d) Pursuant to the requirements to subsection 365(1A) of the Companies Act, 1965, the future distribution of dividends<br />
out of the Company’s unappropriated profit may only be declared for a financial year up to an amount not exceeding<br />
the after-tax profit of that financial year or not exceeding the average dividends declared in respect of the two financial<br />
year immediately preceding that financial year, whichever is greater.<br />
44 <strong>Utusan</strong> <strong>Melayu</strong> (<strong>Malaysia</strong>) Berhad