Company: RHNO
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001641172-25-014247
Chunk: 20

Company: RHINO BITCOIN INC.
Filing Date: 2025-06-09
Form: 10-Q
Item: Item 1
Chunk 20
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 BEFORE INCOME TAX

    Nine months period ended April 30, 2025  
    Nine months period ended April 30, 2024 

    (Unaudited)  
    (Unaudited) 

    Tax jurisdictions from: 

    Local 
    $(224,724) 
    $(53,162)
  
    Foreign, representing 

    - Labuan 
     16,574  
     (13,926)
  
    - Hong Kong 
    $(16,688) 
    $(18,069)
  
    - Malaysia 
     (121,922) 
     (283,900)
  
    Loss before income tax 
    $(346,760) 
    $(369,057)

The
provision for income taxes consisted of the following:

SCHEDULE OF PROVISION FOR INCOME TAX

    For the period ended April 30, 2025 (Unaudited)  
    For the period ended April 30, 2024 (Unaudited) 
  
    Current: 

    - Local 
     494  
     - 
  
    - Foreign 
     -  
     - 
  
    Deferred: 

    - Local 
     -  
     - 
  
    - Foreign 
     -  
     - 

    Income tax expense 
    $494  
    $- 

    F-13

PHOENIX
PLUS CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE NINE MONTHS ENDED APRIL 30, 2025

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

Income
taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”).
Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities
are measured using enacted income tax rates expected to apply to taxable income in the year in which those temporary differences are
expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income
in the year that includes the enactment date.

The
effective tax rate in the periods presented is the result of the mix