AUDITED FINANCIAL STATEMENTS 2022 79 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 14 ZAKAT Group 2022 RM’000 2021 RM’000 Movement of zakat liability: At beginning of financial year - - Current financial year’s zakat expense 35,142 17,406 Zakat paid (35,142) (17,406) At end of financial year - - 15 TAXATION Group Company 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Malaysian income tax: - In respect of current financial year 567,875 328,152 8,290 9,380 - In respect of prior financial year (16,302) 9,337 (3,150) (189) Foreign income tax: - In respect of current financial year 34,001 11,614 - - Deferred tax (Note 49) 65,906 171,893 532 (6,527) Tax expense 651,480 520,996 5,672  2,664 Included in tax expense for the Group is “Cukai Makmur” amounting to RM107,000,000 (2021: RM Nil) 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 2022 RM’000 2021 RM’000 2022 RM’000 2021 RM’000 Profit before taxation after zakat 1,920,081 1,696,574 559,117 272,582 Less: Share of results of: - Associates 2,658 3,551 - - - Joint ventures 146,164 35,858 - - 1,771,259 1,657,165 559,117 272,582 Malaysian corporate tax rate of 24% (2021: 24%) 425,102 397,720 134,188 65,420 Tax effect of: - different tax rates in other countries (264) 1,087 - - - expenses not deductible for tax purposes 86,701 95,177 39,785 24,990 - income not subject to tax (24,284) (13,061) (165,471) (83,643) - (over)/under provision of income tax in prior financial year (16,302) 9,337 (3,150) (189) - temporary differences not recognised as deferred tax 73,232 34,650 - - - temporary differences previously not recognised as deferred tax 295 (3,914) 320 (3,914) - incremental tax rate due to “Cukai Makmur” 107,000 - - - Tax expense 651,480 520,996 5,672 2,664
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