NOTE 21 - TAXES ON INCOME:
| 1. | The Company is incorporated and domiciled in Ireland where the applicable tax rate is 12.5%. |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE
| | |
December 31, 2024 | | |
December 31, 2023 | | |
December 31, 2022 | |
| Reconciliation of income tax at the statutory rate | |
| | | |
| | | |
| | |
| Loss before income tax | |
| (35,401 | ) | |
| (20,989 | ) | |
| (6,184 | ) |
| | |
| | | |
| | | |
| | |
| Theoretical tax rate of 12.5% | |
| (4,425 | ) | |
| (2,624 | ) | |
| (1,701 | ) |
Tax effect amounts which are not deductible/(taxable)
in calculating taxable income:
| Non-deductible expenditure and others | |
| 2,984 | | |
| 3,254 | | |
| 335 | |
| Non-deductible expenditure and others | |
| 2,984 | | |
| 3,254 | | |
| 335 | |
| Unrecognized temporary differences and tax losses for which deferred tax weren’t recognized | |
| 1,441 | | |
| (630 | ) | |
| 1,366 | |
| Income tax / (benefit) | |
| — | | |
| — | | |
| — | |
| 3. | As of December 31, 2024, the Group has estimated carry forward tax losses of approximately $69,363 (2023:
$45,095, 2022: $24,106) which may be carried forward and offset against taxable income for an indefinite period in the future. The Group
did not recognize deferred tax assets relating to carry forward losses in the financial statements because their utilization in the foreseeable
future is not probable. |
|