Company: NUTR
Filing Date: 2025-03-25
Form Type: CORRESP
Source: 0001641172-25-000449
Chunk: 74

Company: NUSATRIP Inc
Filing Date: 2025-03-25
Form: CORRESP
Chunk 74
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 gross profit margin of 99.9098.16%
in December 31, 20222023. Significant high gross profit margin is the nature of our business forwhich
majorthe majority of the revenue are recognized at net basis, according to agency theory, which
the cost of purchase is net off in the revenue against the Gross Merchandise Value (GMV) and the revenue is supported by operating costs.
The decreaseincrease is mainly attributable to the increasedecrease in cost of revenue
for the year ended December 31, 2023, due to expansion of IT team and software cost2024.

Sales and Marketing Expenses (“S&M”)

For the year ended December 31, 20232024,
our sales and marketing expenses increaseddecreased by $9,705135,308 or 3.3244.86%
to $301,597166,289, as compared with $291,892301,597 for the year ended December 31, 20222023.
The increasedecrease in S&M is primarily attributable to the further cost control forrelated marketing
and promotion expenses needed for boosting the travel business.

General and Administrative Expenses (“G&A”)

For the year ended December 31, 20232024,
our general and administrative expenses decreased by $1,012,347286,551 or 33.2914.12%
to $2,028,9711,742,420, as compared with $3,041,3182,028,971 for the year ended December
31, 20222023. The decrease was mainly due to the reversaladjustment of post-employment benefit, unclaimablesales tax and withholding tax provision which amounting to $191,634 for December 31, 2023, fromthe
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 coveredfact that 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