Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 167

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 2
Chunk 167
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 the tax basis of assets and liabilities are reported in the accompanying
balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred
tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary.

In
addition to U.S. income taxes, the Company and its wholly-owned foreign subsidiaries, is subject to income taxes in the jurisdictions
in which it operates. Significant judgment is required in determining the provision for income tax, there may be transactions and calculations
for which the ultimate tax determination is uncertain. The Company recognizes liabilities for anticipated tax audit issues based on the
Company’s current understanding of the tax law. Where the final tax outcome of these matters is different from the carrying amounts,
such differences will impact the current and deferred tax provisions in the period in which such determination is made.

54

    ●
    Foreign
    Currencies Translation and Transactions

The
reporting currency of the Company is the United States Dollar (“US$”) and the accompanying consolidated unaudited condensed
financial statements have been expressed in US$. The Company’s subsidiaries operating in Singapore maintain its books and record
in US$. In addition, The Company’s subsidiaries are operating in the Republic of Vietnam, Malaysia, Indonesia and China and maintains
its books and record in its local currency, Vietnam Dong (“VND”), Malaysian Ringgit (“MYR), Indonesian Rupiah (“IDR”),
and Chinese Yuan (“CNY”), respectively, which are the functional currencies in which the subsidiary’s operations are
conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are
translated into US$, in accordance with ASC Topic 830, “Translation of Financial Statement” (“ASC 830”) using
the applicable exchange rates on the balance sheet date.

Shareholders’
equity is translated using historical rates. Revenues and expenses are translated at average rates prevailing during the period. The
gains and losses resulting from the translation of financial statements of foreign subsidiaries are recorded as a separate component
of accumulated other comprehensive income (loss) within the unaudited condensed statements of changes in shareholder’s equity.

Translation
of amounts from VND into US$ has been made at the following exchange rates for six months ended June 30, 2025 and 2024:

    June 30,  2025  
    June 30,  2024 
  
    Period-end VND$:US$ exchange