Company: NUTR
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001641172-25-012203
Chunk: 215

Company: NUSATRIP Inc
Filing Date: 2025-05-23
Form: S-1/A
Chunk 215
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 rate of 22% during its tax year.

As of March 31, 2025 and December 31, 2024, PTTSM incurred $8,142,965 and $7,747,486, respectively, of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss generated in a tax year can be carried forward for five (5) years. The Company has provided for a full valuation allowance against the deferred tax assets of $74,941 as of March 31, 2025 and $1,704,447 as of December 31, 2024 on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Uncertain tax position

The Company is subject to taxation in the U.S. and various foreign jurisdictions. U.S. federal income tax returns for 2018 and after remaining open to examination. We and our subsidiaries are also subject to income tax in multiple foreign jurisdictions. Generally, foreign income tax returns after 2017 remain open to examination. No income tax returns are currently under examination. As of December 31, 2024 and 2023, the Company does not have any unrecognized tax benefits, and continues to monitor its current and prior tax positions for any changes. The Company recognizes penalties and interest related to unrecognized tax benefits as income tax expense. For the three months ended March 31, 2025 and year ended December 31, 2024, there were no penalties or interest recorded in income tax expense.

Income tax liability is calculated based on a separate return basis as if SOPA had filed separate tax returns before the completion of the Reorganization. Immediately following the Reorganization, the Company began to file separate tax returns and report the income tax based on the actual tax return of each legal entity under its respective tax regime.

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<div align='center'>NUSATRIP INCORPORATED

NOTES TO UNAUDITED INTERIM CONDENSED CARVE-OUT COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Currency expressed in United States Dollars (“US$”))</div>

NOTE 12 — PENSION COSTS

The Company’s subsidiaries are required to make contributions to their employees under a government-mandated defined contribution pension scheme for its eligible full