Asia Media Annual Report 2017

ASIA MEDIA GROUP BERHAD Annual Report 2017 121 24. Taxation (cont’d) A reconciliation of income tax expense applicable profit/(loss) before tax at the 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 2017 2016 2017 2016 RM RM RM RM Profit/(Loss) before tax - From continuing operations 3,010,557 (9,789,104) 1,740,398 (10,256,896) - From discontinued operations (786,383) (302,520) - - Profit/(Loss) before tax 2,224,174 (10,091,624) 1,740,398 (10,256,896) At Malaysian statutory tax rate of 24% (2016: 24%) 533,802 (2,421,990) 417,696 (2,461,655) Expenses not deductible for tax purposes 758,523 2,340,105 342,572 2,461,655 Income not subject to tax (497,835) (86,676) (760,268) - Utilisation of current year capital allowances (1,155,057) - - - Deferred tax assets not recognised 360,567 168,561 - - Tax expenses for the financial year - - - - The Group has unabsorbed capital allowances and unutilised tax losses of approximately RM71,754,478 and RM3,474,148 respectively (2016: RM58,714,404 and RM2,765,870 respectively) to carry forward to offset against future taxable profit. The said amounts are subject to approval by the tax authorities. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2017 (cont’d)