Company: AOAO
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001493152-25-001624
Chunk: 106

Company: Alpha One Inc.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 106
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                 |   713,510 |     |   |   224,440 |
| Others                              |     |                 | 1,163,054 |     |   |   378,940 |
|                                     |     | $               | 4,153,740 |     | $ | 1,214,610 |

As of March 31, 2024 and 2023, the engineering labor costs accrued according to the progress of the project. Unpaid costs mainly due to the project not completed and accepted. Others represent loan from individuals and expenses paid on behalf of staffs.

NOTE 8 – CONTRACT LIABILITIES

|                                    |     | As of March 
 31,         |  2024 |     |   |    2023 |
|:-----------------------------------|:----|:------------|------:|:----|:--|--------:|
| Billings in advance of performance |     | $           | 8,112 |     | $ | 339,796 |

As of March 31, 2024 and 2023, billings in advance of performance are expected to be recognized as income within one year.

NOTE 9 - INCOME TAXES

United States of America

The Company is registered in the State of Wyoming and is subject to United States of America tax law. The U.S. federal income tax rate is 21%.

British Virgin Islands

The Company’ssubsidiary incorporated in the British Virgin Islands is not subject to income or capital gains tax under the current laws of the British Virgin Islands. The British Virgin Islands does not impose withholding tax on dividend payments.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, our subsidiaries incorporated in Hong Kong are subject to a two-tiered profits tax rates regime. Under the two-tiered profits tax rates regime, the first HK$2.0 million of profits of the qualifying Company entity will be taxed at 8.25%, and profits above HK$2.0 million will be taxed at 16.5%. We do not have operations in our Hong Kong subsidiaries and we will not be subject to profits tax. In addition, dividend payments to us are not subject to Hong Kong withholding tax.

The PRC

Generally, the Company’s WFOE, which are considered PRC resident enterprises under PRC tax law, are subject to enterprise income tax on their worldwide taxable income as determined under PRC tax laws and accounting standards at a rate of 25%.

In January