FGV HOLDINGS BERHAD | AUDITED FINANCIAL STATEMENTS 2023 185 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023 48 DEFERRED TAXATION (CONTINUED) Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Deferred tax liabilities - intangible assets (11,283) (12,247) - - - property, plant and equipment (1,415,939) (1,385,824) (2,113) (1,148) - biological assets (14,316) (18,861) - - - right-of-use (16,192) (5,120) - - - others (9,890) (5,952) - - Amount before offsetting (1,467,620) (1,428,004) (2,113) (1,148) Offsetting 876,097 850,286 2,113 1,148 (591,523) (577,718) - - Under the Malaysia Finance Act 2018 which was gazetted on 27 December 2018, unutilised tax losses will be imposed with a limit of utilisation for 7 consecutive years. In Budget 2023, the existing time limit to carry forward unutilised business losses to be extended to 10 consecutive YAs. The existing transitional provision for unutilised business losses from YA 2018 be allowed to be carried forward for 10 consecutive YAs, until YA 2028. The Group’s and Company’s unused tax losses as at 31 December 2023 for which no deferred tax assets were recognised based on the year of assessment (“YA”) expiry for the Group and Company are as follows: Group Company 2023 RM’000 2022 RM’000 2023 RM’000 2022 RM’000 Expiring in YA 2028 514,451 523,721 - - Expiring in YA 2029 204,756 204,756 - - Expiring in YA 2030 57,210 52,232 - - Expiring in YA 2031 35,673 35,673 - - Expiring in YA 2032 203,532 170,389 - - Expiring in YA 2033 225,755 - - - 1,241,377 986,771 - -
RkJQdWJsaXNoZXIy NDgzMzc=