Fraser & Neave Holdings Bhd Annual Report 2021

24. TAX EXPENSE RECOGNISED IN PROFIT OR LOSS Group Company Note 2021 RM’000 2020 RM’000 2021 RM’000 2020 RM’000 Current tax expense Current year 77,432 97,621 22,271 23,372 Prior years (770) 662 (277) 13 76,662 98,283 21,994 23,385 Deferred tax expense Origination of temporary di!erences 14,166 14,535 – – Over provision in prior year (6,547) (31) – – 11 7,619 14,504 – – Total income tax expense 84,281 112,787 21,994 23,385 Reconciliation of tax expense Profit before tax 479,411 522,911 247,619 293,085 Income tax calculated using Malaysian tax rate of 24% (2020: 24%) 115,059 125,499 59,429 70,340 E!ect of tax rates in foreign jurisdictions (15,800) (19,290) – – Tax exempt income (29,853) (22,732) (57,771) (66,782) Non-deductible expenses 2,080 10,114 207 772 (Over)/Under provided in prior years (7,317) 631 (277) 13 Foreign withholding tax 21,392 20,375 20,406 19,042 Others (1,280) (1,810) – – Total income tax expense 84,281 112,787 21,994 23,385 E!ective income tax rate 18% 22% 9% 8% 222 NOTES TO THE F INANCIAL STATEMENTS