v3.26.3
INCOME TAXES
 12 Months Ended
Jul. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES

11. INCOME TAXES

 

For the year ended July 31, 2026 and July 31, 2025, the local (United States) and foreign components of loss before income taxes were comprised of the following: 

  

Year ended

July 31, 2026

  

Year ended

July 31, 2025

 
   (Audited)   (Audited) 
Tax jurisdictions from:          
- Local  $(95,011)  $(71,699)
- Foreign, representing          
Seychelles   (1,600)   (1,600)
Hong Kong   (1,636)   (3,479)
           
Loss before income tax  $(98,247)  $(76,778)

 

The provision for income taxes from consisted of the following:

  

Year ended

July 31, 2026

  

Year ended

July 31, 2025

 
   (Audited)   (Audited) 
Current:          
- Local  $-   $- 
- Foreign   -    - 
           
Deferred:          
- Local   -    - 
- Foreign   -    - 
           
Income tax expense  $-   $- 

 

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 Company and its subsidiary that operate in various countries: United States, Seychelles and Hong Kong that are subject to taxes in the jurisdictions in which they operate, as follows:

 

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:

 

  

Year ended

July 31, 2026

  

Year ended

July 31, 2025

 
   (Audited)   (Audited) 
Computed expected expenses   21%   21%
Effect of foreign tax rate difference   -%   -%
Valuation allowances   21%   21%
Others   -%   -%
Effective tax rate   0%   0%

 

  

Year ended

July 31, 2026

  

Year ended

July 31, 2025

 
   (Audited)   (Audited) 
Statutory federal income tax rate   21%   21%
Computed expected expenses  $20,631   $16,123 
Effect of foreign tax rate difference   -    - 
Valuation allowances   (20,631)   (16,123)
Others   -    - 
Total income tax expense  $-   $- 

 

United States of America

 

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of July 31, 2026, the operations in the United States of America incurred $1,038,685 of cumulative net operating losses which can be carried forward indefinitely to offset a maximum of 80% future taxable income. The Company has provided for a full valuation allowance of $830,948 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

Seychelles

 

Under the current laws of the Seychelles, MU Worldwide Group Limited is registered as an international business company and governed by the International Business Companies Act of Seychelles. There is no income tax charged in Seychelles.

 

Hong Kong

 

MU Global Holding Limited is subjected to Hong Kong Profits Tax, which is charged at the statutory income tax rate of 16.5% on its assessable income.

 

 

VANGUARD GREEN INVESTMENT LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED JULY 31, 2026 AND 2025

(Currency expressed in United States Dollars (“US$”), except for number of shares)