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Notes to the Financial Statements (cont’d)
For the financial year ended 31 December 2011
12. Income tax expense
110
Major components of income tax expense
The major components of income tax expense for the years ended 31 December 2011 and 2010 are:
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Income statement
Current income tax:
Malaysian income tax 30,965 22,962 27,165 16,188
Foreign tax 4,616 11,483 – –
35,581 34,445 27,165 16,188
Under/(Over) provision in prior years:
Malaysian income tax 812 (96) (1,843) (155)
Foreign tax 3,222 – – –
39,615 34,349 25,322 16,033
Foreign withholding tax 705 1,442 705 1,442
40,320 35,791 26,027 17,475
Deferred tax (Note 33):
Relating to origination and reversal of temporary
differences (4,746) (13,917) (1,765) (775)
(Over)/Under provision in prior years (1,098) (106) (27) 38
Building on Success: Developing Resources for the Future
(5,844) (14,023) (1,792) (737)
Income tax expense recognised in profit or loss 34,476 21,768 24,235 16,738
Group Company
2011 2010 2011 2010
RM’000 RM’000 RM’000 RM’000
Deferred income tax related to other comprehensive
income (Note 33):
Net surplus on revaluation of freehold land and
buildings – 559 – 221
Net fair value changes on cash flow hedges (268) 3,120 (268) 812
(268) 3,679 (268) 1,033
Domestic current income tax is calculated at the statutory tax rate of 25% of the estimated assessable profit for the year.
Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. The income tax rate applicable
to foreign subsidiaries are as follows:-
2011 2010
Australia 30% 30%
Indonesia 25% and 30% 25% and 30%
Singapore 17% 17%