Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 959

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 9
Chunk 959
---
 rates
expected to apply to taxable income in the years 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 period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how
companies should recognize, measure, present, and disclose in their consolidated financial statements uncertain tax positions taken or
expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements
when it is more likely than not the position will be sustained upon examination by the tax authorities. The Company’s management
determined that the British Virgin Islands and Cayman Islands are the Company’s major tax jurisdiction. The Company recognizes accrued
interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits and
no amounts accrued for interest and penalties as of December 31, 2024 and 2023, respectively. The Company is currently not aware of any
issues under review that could result in significant payments, accruals or material deviation from its position.

The Company may be subject to potential examination
by foreign taxing authorities in the area of income taxes. These potential examinations may include questioning the timing and amount
of deductions, the nexus of income among various tax jurisdictions and compliance with foreign tax laws. The Company’s management
does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. As such, the Company’s
tax provision was zero for the periods presented.

F-14

KEEN VISION ACQUISITION
CORPORATION

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

The Company is considered to be an exempted British
Virgin Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax
filing requirements in the British Virgin Islands.

After the Initial Public Offering, the proceeds
held in the Trust Account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money
market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations. An investment in this offering may result in uncertain U.S. federal income tax consequences.

●Net income (loss) per share

The Company calculates net income (loss) per share
in accordance with ASC Topic 260