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ASIA MEDIA GROUP Berhad
Annual Report 2016
112
Notes to the Financial Statements
(continued)
20. Income tax credit
The numerical reconciliation between loss before tax at the statutory income tax rate to income
tax credit at the effective income tax rate of the Group and of the Company is as follows:
Group
Company
2016
2015
2016
2015
RM
RM
RM
RM
Loss before tax
(10,091,624) (105,637,420) (10,256,896) (102,143,781)
Tax at Malaysian statutory tax
rate of 24% (2015: 25%)
(2,421,990) (26,409,355) (2,461,655) (25,535,945)
Tax effects in respect of:
Expenses not deductible for
tax purposes
3,345,494 26,131,765 2,461,655 25,535,945
Income not subject to tax
(1,092,065)
(129,024)
–
–
Current year losses for which
no deferred tax asset was
recognised
168,561
437,822
–
–
Utilisation of current year
capital allowances
–
(31,208)
–
–
Tax credit for the financial year
–
–
–
–
Subject to agreement with the tax authority, at the end of the reporting periods, the Group has
unutilised tax losses and unabsorbed capital allowance available to be carried forward for offset
against future taxable business income as follows:
Group
2016
2015
RM
RM
Unutilised tax losses
2,453,628 3,779,169
Unabsorbed capital allowance
56,239,417 38,864,089
58,693,045 42,643,258