Company: NUTR
Filing Date: 2025-03-25
Form Type: CORRESP
Source: 0001641172-25-000449
Chunk: 242

Company: NUSATRIP Inc
Filing Date: 2025-03-25
Form: CORRESP
Chunk 242
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 deferred tax assets of $7,652 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

Nusatrip Malaysia operating in Malaysia is subject to the Malaysia Income Tax at a standard income tax rate of 24% during its tax year.

As of September 30, 2024, the operation in the Malaysia incurred $22,575 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 deferred tax assets of $5,418 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.

Indonesia

PTTSM is registered in Indonesia and is subject to the tax laws of Indonesia at a standard income tax rate of 22% during its tax year.

As of September 30, 2024, PTTSM incurred $7,749,245 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 partial valuation allowance against the deferred tax assets of $1,704,834 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.

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, 2024 and December 31, 2023, 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 year ended December 31, 2023, nine months ended September 30, 2024 and 2023, there were no penalties or interest recorded in income tax expense.

Income tax liability is calculated based on a separate return basis as if SOPA had filed separate tax returns before the completion