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Annual Report 2014 | S P SETIA BERHAD GROUP | 181

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

35. PROFIT BEFORETAX (CONT’D)

Directors’ remuneration does not include the estimated monetary value of benefits-in-kind as follows:

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Company’s directors

3,515

1,734

11

961

Subsidiaries’ directors

-

230

-

20

36. TAX EXPENSE

Group

Company

2014

2013

2014

2013

RM’000

RM’000

RM’000

RM’000

Restated

Malaysian taxation based on results for the year

- current

167,295

241,479

11,872

23,090

- deferred

37,635

(72,412)

9

(21)

204,930

169,067

11,881

23,069

Under /(Over) provision in prior years

- current

13,919

6,442

(1,321)

(183)

- deferred

(13,130)

(1,526)

-

229

205,719

173,983

10,560

23,115

Domestic income tax is calculated at the Malaysian statutory tax rate of 25% (2013: 25%) of the estimated assessable profit for the

year. Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. The domestic statutory rate will

be reduced to 24% from the current year’s rate of 25% effective year of assessment 2016. The computation of deferred tax as at 31

October 2014 has reflected these changes.