2018 UEM Edgenta Annual Report

10. INCOME TAX EXPENSE/(BENEFIT) Major components of income tax expense Major components of income tax expense for the years ended 31 December 2018 and 2017 are: Group Company 2018 2017 2018 2017 RM’000 RM’000 RM’000 RM’000 Income statements Current income tax: - Malaysian income tax 38,703 43,131 – – - Foreign tax 10,789 10,828 – – 49,492 53,959 – – Over provision of income tax in prior years: - Malaysian income tax (6,149) (3,542) – (125) - Foreign tax (1,259) (1,294) – – (7,408) (4,836) – (125) 42,084 49,123 – (125) Deferred tax: - Relating to origination and reversal of temporary differences (2,933) (2,881) – – - Under/(over) provision in prior years 4,109 (83) – – 1,176 (2,964) – – Income tax from continuing operations 43,260 46,159 – (125) Income tax from discontinued operation (Note 17(e)) – 33,701 – – Income tax recognised in profit or loss 43,260 79,860 – (125) Statements of other comprehensive income Deferred tax related to items recognised during the year (Note 32): - Remeasurement loss on Retirement Benefit Scheme and Defined Benefit Pension Scheme 61 (14) – – - Discontinued operation – 6,934 – – 61 6,920 – – Domestic income tax is calculated at the Malaysian statutory tax rate of 24% (2017: 24%) of the estimated assessable profit for the year. Taxation for other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. Profits derived from overseas branch operations are not subject to Malaysian tax. NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2018 Management Discussion & Analysis UEM Edgenta Berhad Annual Report 2018 About UEM Edgenta Chairman’s Statement 190