FGV Annual Report 2014

14 Taxation Group Company 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Malaysian income tax: – In respect of current financial year 268,879 139,205 – – – In respect of prior financial year 9,151 12,557 7 (2,168) Foreign income tax: – In respect of current financial year (941) 820 – – Deferred tax (Note 48) 367 214,077 (3,616) (14,822) Tax expense/(income) 277,456 366,659 (3,609) (16,990) A reconciliation of income tax expense applicable to profit before taxation after zakat at the Malaysian statutory income tax rate to income tax expense at the effective income tax rate of the Group and of the Company is as follows: Group Company 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Profit before taxation after zakat 845,352 1,503,710 446,891 594,361 Malaysian corporate tax rate of 25% (2013: 25%) 211,338 375,928 111,723 148,590 Tax effect of: – different tax rates in other countries 2,800 3,889 – – – expenses not deductible for tax purposes 91,556 25,167 51,949 42,318 – changes in tax rate 1,371 38,687 – – – income not subject to tax (57,785) (108,376) (173,007) (204,575) – temporary differences not recognised as deferred tax 29,930 20,184 – – – under provision of income tax in prior year 9,151 12,557 7 (2,168) – others (10,905) (1,377) 5,719 (1,155) Tax expense/(income) 277,456 366,659 (3,609) (16,990) Felda Global Ventures Holdings Berhad pg 218 NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2014