KENANGA ANNUAL REPORT 2019

231 NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2019 40. TAXATION AND ZAKAT Group Bank 2019 RM'000 2018 RM'000 2019 RM'000 2018 RM'000 Current income tax: Tax expense for the financial year 14,345 12,189 11,695 11,623 Under provision in prior years 343 2,668 326 846 14,688 14,857 12,021 12,469 Deferred tax (Note 19): Relating to origination and reversal of temporary differences 75 564 265 1,159 Over provision of deferred tax assets in prior years 1,429 1,104 1,428 1,248 1,504 1,668 1,693 2,407 Zakat 373 415 357 340 Total income tax expense 16,565 16,940 14,071 15,216 Domestic income tax is calculated at the statutory tax rate of 24% (2018: 24%) on the estimated chargeable profit for the financial year.