| Schedule of Tax on Losses |
Tax on losses have been calculated at the rates of tax prevailing in the countries/jurisdictions in which the Group operates. | | | For the six months ended June 30, | | | | | 2026 | | | 2025 | | | | | US$ | | | US$ | | | | | | | | | | | Current | | | 11,262 | | | | 14,515 | | | Deferred | | | 1,195 | | | | - | | | Total | | | 12,457 | | | | 14,515 | |
|
Tax on losses have been calculated at the rates of tax prevailing in the countries/jurisdictions in which the Group operates. | | | 2025 | | | 2024 | | | 2023 | | | | | US$ | | | US$ | | | US$ | | | | | | | | | | | | | | Current | | | 40,405 | | | | 112,323 | | | | 64,343 | | | Deferred (note 22) | | | - | | | | (3,395 | ) | | | (1,360 | ) | | | | | | | | | | | | | | | | Income tax expense for the year | | | 40,405 | | | | 108,928 | | | | 62,983 | |
|
| Schedule of Loss Before Tax at the Statutory Tax Rate |
|
A reconciliation of the tax expense applicable to loss before tax at the statutory tax rate for the countries/jurisdictions in which the Group’s operations are domiciled to the tax expense at the Group’s effective tax rate is as follows: | | | 2025 | | | 2024 | | | 2023 | | | | | US$ | | | US$ | | | US$ | | | | | | | | | | | | | | Loss before tax | | | (5,138,570 | ) | | | (37,678,411 | ) | | | (172,537,530 | ) | | Tax credit at the domestic rates applicable to losses in the countries/jurisdictions where the Group operates | | | (635,969 | ) | | | (6,345,825 | ) | | | (3,809,856 | ) | | Income not subject to tax | | | (327,277 | ) | | | (471,515 | ) | | | (180,380 | ) | | Expenses not deductible for tax | | | 205,402 | | | | 881,506 | | | | 636,813 | | | Tax losses and deductible temporary differences not recognized | | | 1,718,716 | | | | 5,955,248 | | | | 3,645,841 | | | Tax losses and deductible temporary differences utilized from previous periods | | | (960,620 | ) | | | (12,983 | ) | | | (282,239 | ) | | Others | | | 40,153 | | | | 102,497 | | | | 52,804 | | | | | | | | | | | | | | | | | Income tax expense | | | 40,405 | | | | 108,928 | | | | 62,983 | |
|