| Schedule of income tax provision |
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:
Schedule of income tax provision
| | |
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 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | |
| 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 | ) | |
| - | | |
| - | |
|