Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 21

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 Trust Account 
    $70,373,065  
    $70,373,065  
    $       -  
    $        - 

●Income taxes

Income taxes are determined in accordance with
the provisions of ASC Topic 740, Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized
for the future tax consequences attributable to differences between the unaudited condensed consolidated financial statements carrying
amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted
income tax 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 unaudited condensed 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 unaudited condensed
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 September 30, 2025 and December 31, 2024, 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.

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