Company: OTSA
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001213900-25-047247
Chunk: 130

Company: OTSAW Ltd
Filing Date: 2025-05-23
Form: DRS/A
Chunk 130
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 our total revenues for the years ended April 30, 2024 and 2023, respectively. Research and development expenses accounted for 20.9% and 9.5% of our total revenues for the six months ended October31, 2024 and 2023, respectively. Finance cost Finance costs primarily consisted of accrued interest from loans from related parties and third parties, and interest expense from lease liability. Finance costs accounted for 26.6% and 13.6% of our total revenues for the years ended April 30, 2024 and 2023, respectively. Finance costs accounted for 28.9% and 15.0% of our total revenues for the six months ended October31, 2024 and 2023, respectively. Income tax expenses Cayman Islands We are incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, we are not subject to income, corporation or capital gains tax in the Cayman Islands. In addition, our payment of dividends, if any, is not subject to withholding tax in the Cayman Islands. Singapore Our operating subsidiary in Singapore is subjected to Singapore Corporate Income Tax. For the years ended April 30, 2024 and 2023, and six months ended October31, 2024 and 2023, we were subject to a tax rate of 17% on the entire chargeable income, if any. Income tax accounted for 1.4% and nil of our total revenues for the years ended April 30, 2024 and 2023, respectively. Income tax accounted for nil and nil of our total revenues for the six months ended October31, 2024 and 2023, respectively. Under relevant Singapore tax laws save for any form of fraud or willful default, the statutory time limit for the IRAS to raise any assessments or additional assessments is generally 4 years after the expiry of the particular year of assessment for Corporate Income Tax, and 5 years after the end of the prescribed accounting period for Goods and Services Tax. As of October31, 2024, April 30, 2024 and 2023, we had no open tax investigations from the tax authority and we do not consider that there was any uncertain tax position as of those dates. Germany Our subsidiary in Germany is subject to German corporate income tax (Körperschaftsteuer) at a uniform rate of 15% plus the solidarity surcharge (Solidaritätszuschlag) of