Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 130

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 130
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3 to $139,752 in fiscal year 2024, mainly due to an increase in the total debt borrowing balance as of March 31, 2024 as compared to March 31, 2023; and (ii) our other income primarily related to a VAT tax refund provided by local tax authorities as an incentive to encourage enterprises to establish their business operations in specific regions and to stimulate local economy development. The other income decreased by $120,254, or 35.5%, from $338,951 in fiscal year 2023 to $218,697 in fiscal year 2024 because we received higher amount of a VAT tax refund in fiscal year 2023 than we did in fiscal year 2024. The overall decrease in our net other income (expenses) from fiscal year 2023 to fiscal year 2024 reflected the above factors.

Provision for Income Taxes

Our income tax provision increased by $139,650, or 26.0%, from $537,771 in fiscal year 2024 to $677,421 in fiscal year 2025, primarily due to our increased taxable income. Our income tax provision decreased by $497,476, or 48.1%, from $1,035,247 in fiscal year 2023 to $537,771 in fiscal year 2024, primarily due to our decreased taxable income. Under the Enterprise Income Tax (“ EIT”) Law of the PRC, domestic enterprises and Foreign Investment Enterprises (the “ FIE”) are normally subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays, or exemptions may be granted on a case-by-case basis. The VIE entity Xinjiang YSX and its subsidiaries, Anjielun and Chuangzhan, are all incorporated in Kashi city of Xinjiang Uygur Autonomous Region, where tax reduction and exemption policies were adopted and promulgated by local government to grant qualified enterprises enterprise income tax exemption for the first five years and a reduced corporate income tax of 10% to 15% thereafter, as an incentive to attract enterprises to establish their business operations in such region and to stimulate local economy development. As a result, Xinjiang YSX is entitled to income tax exemption from 2015 to 2020 and then subject to 15% income tax rate starting from January 2021. Anjielun is entitled to income tax exemption from 2018 to 2022 and then subject to 10% income tax rate since