v3.26.3
INCOME TAX
 3 Months Ended
Aug. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAX

7. INCOME TAX

 

The loss from operation before income taxes of the Company for the three months ended August 31, 2026 and 2025 were comprised of the following:

  

         
  

For the three months ended

August 31

 
   2026   2025 
Tax jurisdictions from:          
– Local  $(285)  $(6,833)
- Foreign, representing:          
– New Zealand   -    - 
Loss before income taxes  $(285)  $(6,833)

 

Provision for income taxes consisted of the following:

 

  

For the three months ended

August 31

 
   2026   2025 
Current:         
– Local  $-   $- 
– Foreign  $-   $- 
           
Deferred tax assets:          
– Local  $-   $- 
– Foreign  $-   $- 
           
Deferred tax liabilities:              
– Local   $ -     $ -
– Foreign   $ -     $ -
               
Income tax payable:                
– Local   $ -     $ -  
– Foreign   $ -     $ -  
                 
Income tax assets:              
– Local   $ -     $ -
– Foreign   $ -     $ -

 

Effective and Statutory Rate Reconciliation

 

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The following table summarizes a reconciliation of the Company’s income taxes expenses:

 

         
  

For the three months ended

August 31

 
   2026   2025 
Computed expected expenses   21%   21%
Effect of foreign tax rate difference   -%   -%
Valuation allowances   21%   21%
Others   -%   -%
Effective tax rate   0%   0%

 

 

         
  

For the three months ended

August 31

 
   2026   2025 
Statutory federal income tax rate   21%   21%
Computed expected expenses  $60   $1,435 
Effect of foreign tax rate difference   -    - 
Valuation allowances  $(60)  $(1,435)
Others   -    - 
Total income tax expense  $-   $- 

 

United States of America

 

The Tax Act reduces the U.S. statutory corporate tax rate from 35% to 21% for our tax years beginning in 2018, which resulted in the re-measurement of the federal portion of our deferred tax assets from the 35% to 21% tax rate. The Company is registered in the State of Nevada and is subject to United States of America tax law. As of August 31, 2026, the operations in the United States of America incurred $51,493  of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carry forwards begin to expire in 2042, if unutilized. The Company has provided for a full valuation allowance of approximately $10,814 against the deferred tax assets on the expected future tax benefits from the net operating loss carry forwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of August 31, 2026 and May 31, 2026:

 

   As of   As of 
   August 31, 2026   May 31, 2026 
Deferred tax assets:          
           
Net operating loss carry forwards          
– United States of America  $10,814   $10,754 
Less: valuation allowance   (10,814)   (10,754)
Deferred tax assets  $-   $- 

 

Management believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets of $10,814 as of August 31, 2026.