| TAXES |
Note 13
— TAXES
Income
tax
Cayman
Islands
The
Company is incorporated in the Cayman Islands and is not subject to tax on income or capital gains under current Cayman Islands law.
In addition, upon payments of dividends by the Company entities to their shareholders, no Cayman Islands withholding tax will be imposed.
Accordingly, the Company do not accrue for taxes. Singapore
The
following table reconciles Singapore statutory rates to the Company’s effective tax rate:
| | |
For the years ended March 31, | |
| | |
2023 | | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
S$ | | |
US$ | |
| Income before tax | |
| 4,797,146 | | |
| 4,147,616 | | |
| 2,457,817 | | |
| 1,828,051 | |
| Singapore statutory income tax rate | |
| 17 | % | |
| 17 | % | |
| 17 | % | |
| 17 | % |
| Income tax expense computed at statutory rate | |
| 815,515 | | |
| 705,095 | | |
| 417,829 | | |
| 310,769 | |
| | |
| | | |
| | | |
| | | |
| | |
| Reconciling items: | |
| | | |
| | | |
| | | |
| | |
| Income not subject to tax in Singapore | |
| (328 | ) | |
| (40,126 | ) | |
| (1,774 | ) | |
| (1,319 | ) |
| Non-deductible expenses | |
| 121,264 | | |
| 131,965 | | |
| 160,622 | | |
| 118,163 | |
| Tax exemption and rebates | |
| (47,489 | ) | |
| (43,760 | ) | |
| (55,425 | ) | |
| (41,224 | ) |
| Utilization of prior year deferred tax assets not recognized | |
| (18,637 | ) | |
| — | | |
| — | | |
| — | |
| Under/ (Over provision) of tax in prior financial year | |
| — | | |
| 19,016 | | |
| (205,399 | ) | |
| (152,770 | ) |
| Others | |
| — | | |
| 20,017 | | |
| (95,901 | ) | |
| (70,025 | ) |
| Income tax expenses | |
| 870,325 | | |
| 792,207 | | |
| 219,952 | | |
| 163,594 | |
|