Company: NUTR
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002312
Chunk: 61

Company: NUSATRIP Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 61
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 is primarily attributable to the related marketing and promotion expenses needed for boosting the travel business.

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General and Administrative Expenses (“G&A”)

For the year ended December 31, 2023, our general and administrative expenses decreased by $1,012,347 or 33.29% to $2,028,971, as compared with $3,041,318 for the year ended December 31, 2022. The decrease was mainly due to the reversal of sales tax and withholding tax provision which amounting to $191,634 for December 31, 2023, from the sales tax and withholding tax provision of $1,730,321 for December 31, 2022. This sales tax provision was computed based on all air ticketing and hotel reservation revenue in Indonesia whereas withholding tax was computed based on all taxable payments subject to Indonesia local tax requirement. Both this sales tax and withholding tax covered the transactions between 2016 to 2022 omitted by the Company’s previous owner; we appointed a local tax agent for this provision calculation after the business acquisition. The reversal happened in 2023 and was reflected by the finalization of these computation by local tax authority. All above was partially offset by increased in staff costs of $601,140, professional fee of $236,278, and other operating costs.

Other income (expenses)

For the year ended December 31, 2023, net other income decreased by $930,003 or 85.20% to $161,530, as compared to net other income of $1,091,533 for the year ended December 31, 2022. The reduction is mainly due to the waiver of debt from amount due to previous shareholder decrease of $957,241 or 87.19% from $1,097,870 for the year ended December 31, 2022 to $140,629 for the year ended December 31, 2023.

Income (Loss) before income taxes

For the year ended December 31, 2023, our operations performance increased by $934,893 or 111.46% to income from operations of $96,097, as compared to loss from operations of $838,796 for the year ended December 31, 2022. The decrease is mainly caused by the increase in gross profit and decrease in general and administrative expenses as explained earlier.

Income Tax Expense

We incurred income tax and deferred tax expense of $16,185 and $179,123 for