I-Berhad (7029-H) - Bursa Malaysia

20. Taxation
Group Company
1999 1998 1999 1998
RM RM RM RM
Current year provision – (70,000) – –
Taxation underprovided
in respect of prior years (23,890) (105,411) – –
Deferred taxation 92,800 (92,800) – –
68,910 (268,211) – –
T h e re is no tax charge for the year as the Company is in a tax loss position.
As at 31 December, 1999, the Company has unabsorbed tax losses of approximately RM8,136,000
(1998: RM5,047,000), unabsorbed capital allowances of approximately RM4,380,000 (1998:
RM2,274,000) and unabsorbed reinvestment allowances of RM2,053,000 (1998: RM1,176,000), which
can be used to offset against future taxable profits, subject to agreement with the Inland Revenue Board.
As at 31 December, 1999, the Company has a potential deferred tax benefit of approximately
RM3,788,000 (1998: RM1,818,000), arising principally from unabsorbed tax losses, unabsorbed capital
allowances and unabsorbed reinvestment allowances carried forward, the effects of which are not
included in the accounts as there is no assurance beyond any reasonable doubt that future taxable income
will be sufficient to allow the benefit to be realised.
As at 31 December, 1999, the Company has tax exempt balance available for distribution under the
Promotion of Investment Act, 1986 and Income Tax Act, 1967 amounting to approximately RM881,000
and RM5,009,000 (1998: RM881,000 and RM6,221,000) respectively, both of which are subject to
agreement with the Inland Revenue Board.
21.Loss Per Share
The basic loss per share for 1999 is calculated by dividing the Group’s loss after taxation of RM5,491,616
by the number of ordinary shares in issue of 20,196,000.
The basic loss per share for 1998 is calculated by dividing the Group’s loss after taxation of RM4,952,717
by the number of ordinary shares in issue of 20,196,000.
55