Company: NUTR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023401
Chunk: 116

Company: NUSATRIP Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 116
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 of the People’s Republic of China at a standard
income tax rate of 20% during its tax year.

As
of September 30, 2025, the Company’s subsidiary operations in China incurred $20,140 of net operating gain. The Company has provided
for a full tax effect allowance against the current and deferred tax expenses of $5,021.

Hong
Kong

The
Company’s subsidiary is incorporated in Hong Kong and is subject to the Hong Kong Profits Tax at a standard rate of 17%  on
assessable income for the tax year.

As
of September 30, 2025, the Company’s Hong Kong operations incurred $51,248 of cumulative net operating losses which can be carried
forward to offset future taxable profits, in accordance with the Hong Kong Inland Revenue Ordinance. The net operating loss carryforwards
have no expiration period under current Hong Kong tax law. The Company has provided for a full valuation allowance against the deferred
tax assets of $8,456 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.

Malaysia

The
Company’s subsidiary is registered in Malaysia and is subject to the Malaysia Income Tax at a standard income tax rate of 24% during
its tax year.

As
of September 30, 2025, the operation in the Malaysia incurred $2,985 of net operating gain. The Company has provided for a full tax effect
allowance against the current and deferred tax expenses of $717.

    31

Uncertain
tax position

The
Company is subject to taxation in the U.S. and various foreign jurisdictions. U.S. federal income tax returns for 2018 and after remaining
open to examination. We and our subsidiaries are also subject to income tax in multiple foreign jurisdictions. Generally, foreign income
tax returns after 2017 remain open to examination. No income tax returns are currently under examination. As of September 30, 2025 and
December 31, 2024, the Company does not have any unrecognized tax benefits, and continues to monitor its current and prior tax positions
for any changes. The Company recognizes penalties and interest related to unrecognized tax benefits as income tax expense. For the period
ended September 30, 2025 and December 31, 2024, there were no penalties or interest recorded in income tax expense.

Income