Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 230

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 6
Chunk 230
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    2024  
    2023 
  
    Current 
    $  
    $             
  
    Federal 
     -  
     - 
  
    State 
     -  
     - 
  
    Foreign 
     2,487  
     - 
  
    Total current 
     2,487  
     - 

    Deferred 

    Federal 
     -  
     - 
  
    State 
     -  
     - 
  
    Foreign 
     -  
     - 
  
    Total deferred 
     -  
     - 

    Total income tax expense 
    $2,487  
    $- 

A
reconciliation between the Company’s actual provision for income taxes and the provision at the statutory rate is as follow:

SCHEDULE OF RECONCILIATION OF PROVISION OF INCOME TAX

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Loss before income tax expense 
    $(1,989,260) 
    $(2,149,213)
  
    Computed tax expense with statutory tax rate 
     21.0% 
     21.0%
  
    Impact of different tax rates in other jurisdictions 
     3.5% 
     3.4%
  
    Tax effect of non-deductible expenses 
     (2.2)% 
     (2.2)%
  
    Change in valuation allowance 
     (22.4)% 
     (22.2)%
  
    Effective tax rate 
     (0.1)% 
     0%

    F-42

Deferred
tax assets included the following:

 SCHEDULE OF DEFERRED TAX ASSETS 

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Deferred tax assets 
    $-  
    $- 
  
    Net operating loss carryforwards 
     1,866,929  
     1,362,897 
  
    Staff education expense 
     -  
     1,691 
  
    Total deferred tax assets 
     1,866,929  
     1,364,588 
  
    Valuation allowance