Company: QSJC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006089
Chunk: 43

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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. was incorporated in the
State of Nevada. Tancheng Group Co., Ltd. is an U.S. entity and is subject to the United States federal income tax. No provision for income
taxes in the United States has been made as Tancheng Group Co., Ltd. had no United States taxable income for the three and six months
ended June 30, 2025 and 2024.

Qiansui International was incorporated in the
Cayman Islands. Under the current tax laws of Cayman Islands, Qiansui International is not subject to taxation.

Qiansui HK was incorporated in Hong Kong and is
subject to an income tax rate of 16.5% for taxable income generated from operations in Hong Kong.

Qiansui Consulting and Qiansui Media were incorporated
in the PRC and they are subject to profits tax rate at 25% for income generated and operation in the country.

The Company operates its business through a subsidiary
incorporated in the PRC which is subject to a corporate income tax rate of 25%. A reconciliation of the effective tax rates from 25% statutory
tax rates for the three and six months ended June 30, 2025 and 2024 is as follows:

    Schedule of reconciliation of tax expense 

    For the three months ended  June 30, 

    2025  
    2024 
  
    Loss before tax 
    $(85,157) 
    $(93,163)
  
    PRC statutory income tax rate 
     25%  
     25% 
  
    Provision for income taxes 
     (21,289) 
     (23,291)
  
    Non-taxable income 
     –  
     – 
  
    Non-deductible expenses 
     6,003  
     6,929 
  
    Change in valuation allowance 
     15,286  
     16,362 
  
    Tax effect on tax losses expired 
     –  
     – 
  
    Income tax expense 
    $–  
    $– 

    For the six months ended  June 30, 

    2025  
    2024 
  
    Loss before tax 
    $(207,364) 
    $(200,955)
  
    PRC statutory income tax rate 
     25%  
     25% 
  
    Provision for income taxes