v3.26.1
Income Tax Expense
 12 Months Ended
Mar. 31, 2026
Income Tax Expense [Abstract]  
Income tax expense
19. Income tax expense

 

The major components of income tax expense recognized in profit or loss for the years ended March 31, 2024, 2025 and 2026 were:

 

   March 31,
2024		   March 31,
2025		   March 31,
2026		 
   US$   US$   US$ 
Current income tax            
Current year’s provision   223,455    149,467    213,299 
Over provision in respect of prior years   —    (114,028)   — 
    223,455    35,439    213,299 
Deferred taxation               
Current year (Note 6)   (45,354)   (16,158)   (18,519)
    178,101    19,281    194,780 

 

Relationship between tax expense and accounting profits

 

Domestic income tax is calculated at 20% (2025: 20%) of the estimated assessable profits for the financial years. Taxation for other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions.

A reconciliation between tax expense and the product of accounting profits multiplied by Cambodia income tax rate for the financial years ended March 31, 2024, 2025, and 2026 were as follows:

 

   March 31,
2024		   March 31,
2025		   March 31,
2026		 
   US$   US$   US$ 
Profit before income tax   1,297,633    228,954    430,405 
                
Tax calculated at tax rate of 20% (2025: 20%)   259,527    45,791    86,081 
                
Effects of:               
Income not subject to tax   (27,286)   —    (29,787)
Expenses not deductible for tax purposes   34,759    90,753    178,110 
Utilization of deferred tax assets previously not recognized   (112,077)   (129,959)   (142,816)
Effect of minimum tax rates in Cambodia   46,472    149,467    147,857 
Tax concessions and deductions   —    —    (21,154)
Over provision in respect of prior year   —    (114,028)   — 
Different tax rates in foreign jurisdiction   (23,294)   (22,743)   (23,511)
    178,101    19,281    194,780 

 

Deferred income tax assets are recognized for tax losses and capital allowances carried forward to the extent that realization of the related tax benefits through future taxable profits is probable.

 

In prior financial year, the Company had unrecognized provisions of approximately US$714,079 at the reporting date which can be carried forward and used to offset against future taxable income subject to meeting certain statutory requirements. The tax losses and capital allowances have no expiry date. These unrecognized provisions have been utilized during the financial year, and no such unrecognized provisions carried forward for current financial year.

 

Cayman Islands

 

Under the current laws of Cayman Islands, the Company is not subject to any income tax.

 

BVI

 

Under the current laws of BVI, PMV is not subject to any income tax.