Company: QSJC
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001683168-25-001892
Chunk: 230

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 230
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vehicle was $94,766.

    6.
    INCOME TAXES

(a)  Enterprise Income Tax (“EIT”)

Tancheng Group Co., Ltd. was incorporated in the
State of Nevada. Tancheng Group Co., Ltd. is an U.S. entity and is subject to the United States federal income tax. No provision for income
taxes in the United States has been made as Tancheng Group Co., Ltd. had no United States taxable income for the years ended December
31, 2024 and 2023.

Qiansui International was incorporated in the
Cayman Islands. Under the current tax laws of Cayman Islands, Qiansui International is not subject to taxation.

Qiansui HK was incorporated in Hong Kong and is
subject to an income tax rate of 16.5% for taxable income generated from operations in Hong Kong.

Qiansui Consulting and Qiansui Media were incorporated
in the PRC and they are subject to profits tax rate at 25% for income generated and operation in the country.

     F-11 

The Company operates its business through a subsidiary
incorporated in the PRC which is subject to a corporate income tax rate of 25%. A reconciliation of the effective tax rates from 25% statutory
tax rates for the years ended December 31, 2024 and 2023 is as follows:

    Schedule of reconciliation of tax rates 

    For the years ended  December 31, 

    2024  
    2023 
  
    Loss before tax 
    $(288,160) 
    $(289,666)
  
    Tax expense (benefit) calculated at statutory tax rate 
     25%  
     25% 
  
    Computed expected benefits 
     (72,040) 
     (72,417)
  
    Non-deductible expenses 
     40,722  
     – 
  
    Change in valuation allowance 
     29,691  
     72,417 
  
    Tax effect on tax losses expired 
     1,627  
     – 
  
    Income tax expense 
    $–  
    $– 

The full realization of the tax benefit associated
with the losses carried forward depends predominantly upon the Company’s ability to generate taxable income during the carry-forward
period.

In assessing the realization of deferred tax assets,
management considers whether it is more likely than