NOTE
19 - TAXES ON INCOME:
| 1. |
The
Company is incorporated and domiciled in Ireland where the applicable tax rate is 12.5%. |
| |
|
| 2. |
Theoretical
tax: |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| Reconciliation of income tax at the statutory rate | |
| | | |
| | | |
| | |
| Loss before income tax | |
| (174,590 | ) | |
| (35,401 | ) | |
| (20,989 | ) |
| | |
| | | |
| | | |
| | |
| Theoretical tax rate of 12.5% | |
| (21,824 | ) | |
| (4,425 | ) | |
| (2,624 | ) |
Tax
effect amounts which are not deductible/(taxable) in calculating taxable income:
| | |
| | | |
| | | |
| | |
| Non-deductible expenditure and others | |
| 27,338 | | |
| 2,984 | | |
| 3,254 | |
| Unrecognized temporary differences and tax losses for which deferred tax weren’t recognized | |
| (5,514 | ) | |
| 1,441 | | |
| (630 | ) |
| Income tax / (benefit) | |
| - | | |
| - | | |
| - | |
| 3. |
As
of December 31, 2025, the Group has estimated carry forward tax losses of approximately $124,336 (2024: $69,393, 2023: $45,095) 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. |
|