Page 163 - EXIM-BANK-AR20

Section 06 Financial Statements
161

35. ALLOWANCES FOR ECL ON OTHER ASSETS
Group and Bank
2020 2019
RM’000 RM’000

Allowances for other assets 624 -

36. TAXATION

Group Bank
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000

Income tax expense:
- Overprovision of income tax in prior year - 1,323 - 1,323
Deferred tax expense (Note 11):
- Origination and reversal of temporary differences 2,676 3,550 2,676 3,550
- Benefits from previously unutilised business losses (2,676) (3,550) (2,676) (3,550)
- Underprovision of income tax in prior year - (2,316) - -
- (993) - 1,323

Income tax is calculated at the Malaysian statutory tax rate of 24% (2019: 24%) of the estimated assessable profit for the year.
A reconciliation of the taxation applicable to loss before taxation and zakat at the statutory tax rate to taxation at the effective
tax rate of the Group and the Bank is as follows:
Group Bank
2020 2019 2020 2019
RM’000 RM’000 RM’000 RM’000

Profit/(Loss) before taxation 51,150 (478,250) 51,150 (478,250)

Income tax using Malaysian statutory
tax rate of 24% (2019: 24%) 12,276 (114,780) 12,276 (114,780)
Non-deductible expenses 5,366 4,823 5,366 4,823
Deferred tax assets not recognised on unutilised
business losses (17,642) 109,957 (17,642) 109,957
Underprovision of deferred tax in prior year - (2,316) - -
Overprovision of income tax in prior year - 1,323 - 1,323
- (993) - 1,323