v3.25.2
INCOME TAX EXPENSE (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
SCHEDULE OF PROVISION FOR INCOME TAXES

The provision for income taxes consisted of the following:

 

   2023   2024 
   Year ended December 31, 
   2023   2024 
   S$’000   S$’000 
         
Income tax expense          
Current year   681    - 
(Over)/under-provision in prior years   (360)   300 
Deferred tax expense   725    431 
Income tax expense   1,046    731 
SCHEDULE OF EFFECTIVE INCOME TAX RATE

The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the year ended December 31, 2023 and 2024 are as follows:

 

   2023   2024 
   Year ended December 31, 
   2023   2024 
   S$’000   S$’000 
         
Income before income taxes   8,126    2,615 
Statutory income tax rate   17%   17%
Income tax expense at statutory rate   1,381    445 
(Over)/under provision in previous financial year   (360)   300 
Tax effect of non-taxable income   (228)   (133)
Tax effect of non-deductible items   156    41 
Tax effect on temporary differences   211    78 
Statutory stepped income tax exemption   (114)   - 
           
Income tax expense   1,046    731