Company: NUTR
Filing Date: 2025-03-25
Form Type: CORRESP
Source: 0001641172-25-000449
Chunk: 241

Company: NUSATRIP Inc
Filing Date: 2025-03-25
Form: CORRESP
Chunk 241
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    |     16,185 |
| Income tax expense |     | $    |             3,897 |     | $    | 501 |     | $    |     16,185 |

The effective tax rate in the periods/year presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company’s subsidiaries mainly operate in United States-Nevada, Indonesia, Singapore, Malaysia and Vietnam that are subject to taxes in the jurisdictions in which they operate, as follows:

United States

The Company is registered in the Nevada and is subject to the tax laws of United States. As of September 30, 2024 and December 31, 2023, no operating losses which can be carried forward to offset future taxable income.

Vietnam

MLTCL and VITS operating in Vietnam is subject to the Vietnam Income Tax at a standard income tax rate of 20% during its tax year.

As of September 30, 2024, MLTCL incurred $670,470 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss generated in a tax year can be carried forward for five (5) years. The net operating losses starts to expire in 2021 until 2026. The Company has provided for a full valuation allowance against the deferred tax assets of $134,094 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.

| F-43 |

| Table of Contents |

<div align='center'>NUSATRIP INCORPORATED
NOTES TO CARVE-OUT COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
(Currency expressed in United States Dollars (“US$”))</div>

NOTE 10 — INCOME TAXES(cont.)

Singapore

Nusatrip International and Nusatrip Singapore operating in Singapore are subject to the Singapore Income Tax at a standard income tax rate of 17% during its tax year.

As of September 30, 2024, the operation in the Singapore incurred $45,015 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards have no expiration. The Company has provided for a full valuation allowance against the