Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Income Taxes [Abstract] |
|
| Schedule of Singapore Statutory Rates |
The following table reconciles Singapore statutory
rates to the Company’s effective tax rate:
| | |
For the Years Ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
S$ | | |
$ | |
| Income tax expenses | |
| | |
| | |
| | |
| |
| Current income tax expenses | |
| — | | |
| 20,597 | | |
| 20,241 | | |
| 15,741 | |
| Deferred income tax expenses (benefit) | |
| 478,009 | | |
| (186,547 | ) | |
| (140,372 | ) | |
| (109,163 | ) |
| Income tax expenses (benefit) | |
| 478,009 | | |
| (165,950 | ) | |
| (120,131 | ) | |
| (93,422 | ) |
|
| Schedule of Statutory Tax Rate and the Effective Tax Rate for Enterprise Income Tax |
A reconciliation of the differences between the
statutory tax rate and the effective tax rate for enterprise income tax is as follows:
| | |
For the Years Ended December 31, | |
| | |
2023 | | |
2023 | | |
2024 | | |
2024 | | |
2025 | | |
2025 2025 | |
| | |
S$ | | |
% | | |
S$ | | |
% | | |
S$ | | |
$ | | |
% | |
| Income (loss) before tax | |
| 2,868,175 | | |
| 100.0 | | |
| (1,197,088 | ) | |
| 100.0 | | |
| (2,473,133 | ) | |
| (1,923,270 | ) | |
| 100.0 | |
| Singapore statutory income tax rate | |
| 17 | % | |
| | | |
| 17 | % | |
| | | |
| 17 | % | |
| 17 | % | |
| | |
| Income tax expenses (benefit) computed at Singapore statutory rate | |
| 487,590 | | |
| 17.0 | | |
| (203,505 | ) | |
| 17.0 | | |
| (420,433 | ) | |
| (326,956 | ) | |
| 17.0 | |
| Domestic tax effects | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-deductible expenses | |
| 7,530 | | |
| 0.3 | | |
| 5,916 | | |
| (0.5 | ) | |
| 12,827 | | |
| 9,975 | | |
| (0.5 | ) |
| Tax exemption and rebates | |
| — | | |
| — | | |
| — | | |
| —— | | |
| — | | |
| — | | |
| — | |
| True-up of prior tax | |
| — | | |
| — | | |
| (34,022 | ) | |
| 2.8 | | |
| (33,666 | ) | |
| (26,181 | ) | |
| 1.4 | |
| Foreign tax effects | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Statutory tax rate difference between Cayman and Singapore | |
| — | | |
| — | | |
| 65,661 | | |
| (5.4 | ) | |
| 321,141 | | |
| 249,740 | | |
| (13.0 | )_ |
| Others | |
| (17,111 | ) | |
| (0.6 | ) | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| Total tax expenses (benefit) | |
| 478,009 | | |
| 16.7 | | |
| (165,950 | ) | |
| 13.9 | | |
| (120,131 | ) | |
| (93,422 | ) | |
| 4.9 | |
|
| Schedule of Deferred Tax Asset and Liability |
Components
of the Company’s deferred tax asset and liability are as follows:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
S$ | | |
S$ | | |
$ | |
| Deferred tax assets | |
| | |
| | |
| |
| Allowance for credit losses | |
| 10,369 | | |
| 10,854 | | |
| 8,441 | |
| Lease liabilities | |
| 66,845 | | |
| 81,342 | | |
| 63,257 | |
| Net operating loss carry-forwards | |
| 150,781 | | |
| 270,046 | | |
| 210,006 | |
| Depreciation | |
| 7,421 | | |
| 4,735 | | |
| 3,682 | |
| Deferred tax liabilities | |
| | | |
| | | |
| | |
| Right-of-use assets | |
| (66,416 | ) | |
| (82,133 | ) | |
| (63,872 | ) |
| Depreciation | |
| — | | |
| — | | |
| — | |
| Unbilled revenue | |
| (560,836 | ) | |
| (536,310 | ) | |
| (417,070 | ) |
| Deferred tax liabilities, net | |
| (391,836 | ) | |
| (251,466 | ) | |
| (195,556 | ) |
|