v3.26.1
Income tax
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income tax

16 Income tax

 

Cayman Islands

 

Under the current tax laws of Cayman Islands, SIMPPLE is not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payment of dividends to shareholders.

 

The Company’s subsidiaries are governed by the income tax laws in Singapore. The tax on the Company’s loss before tax differs from theoretical amount that would arise using the Singapore standard rate of income tax as follows:

  

   2023   2024   2025   2025 
   For years ended December 31, 
   2023   2024   2025   2025 
   S$   S$   S$   US$ 
Tax expense attributable to income (loss) is made up of:                
Current income tax   23,086    (368,542)   -    - 
                     
Loss before tax   (7,547,787)   (4,301,507)   (4,185,192)   (3,254,679)
                     
Tax calculated at tax rate @17%   (1,283,124)   (731,257)   (711,483)   (553,296)
Effects of:                    
- Effect of tax rates in foreign jurisdiction   930,664    141,421    227,834    177,179 
- Tax effect on expense not deductible for tax purposes   129,502    149,973    211,824    164,729 
- Income not subject to tax   -    (12,096)   (10,083)   (7,841)
- Utilization of capital allowance   (1,041)   -    -    - 
- Recognition of tax effect of previously unrecognized tax losses   (15,809)   -    -    - 
- Deferred tax assets on temporary differences not recognized   239,808    461,877    325,949    253,478 
- Under provision of current taxation in respect of prior year   23,086    (368,542)   -    - 
- Others   -    (9,918)   (44,041)   (34,249)
Tax charge   23,086    (368,542)   -    - 

 

As of December 31, 2024 and 2025, the Company has tax loss carry forwards of approximately S$$4,833,862 and S$4,827,374 respectively. The related benefits have not been recognized in the financial statements. This is due to the unpredictability of future profit streams. The realization of the future income tax benefits from the above is available for an unlimited future period subject to the conditions imposed by law including the retention of majority shareholders as defined.

 

 

SIMPPLE LTD. AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS