Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 294

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 294
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 ASU will be effective for
the annual periods beginning the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early adoption
is permitted. Upon adoption, this ASU should be applied retrospectively to all prior periods presented in the financial statements.
The Group does not expect the adoption of ASU 2023-07 to have a material effect on its condensed consolidated financial statements.

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves
the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective
tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve
the effectiveness of income tax disclosures. This ASU will be effective for the annual periods beginning the year ended December
31, 2026. Early adoption is permitted. Upon adoption, this ASU can be applied prospectively or retrospectively. The Group is currently
evaluating the impact this ASU will have on the Group’s consolidated financial statements.

(3)Critical
accounting estimates and assumptions

The
preparation of condensed consolidated financial statements requires the Group to make estimates and assumptions concerning the future.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom
equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year are discussed below.

Income
taxes 

The
Group’s taxable income generated from these operations are subject to income taxes based on tax laws and interpretations of tax
authorities in numerous jurisdictions. There are many transactions and calculations during the ordinary course of business for which
the ultimate tax determination is uncertain.

Deferred
tax assets are recognized for deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit
will be available against which the temporary differences and the losses can be utilized. Significant management judgement is required
to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits,
together with future tax planning strategies

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