Company: NUTR
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001641172-25-009604
Chunk: 217

Company: NUSATRIP Inc
Filing Date: 2025-05-12
Form: S-1/A
Chunk 217
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 than not that these assets will not be realized in the future.

| F-49 |

<div align='center'>NUSATRIP INCORPORATED

NOTES TO CARVE-OUT COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Currency expressed in United States Dollars (“US$”))</div>

NOTE 11 — INCOME TAXES(cont.)

Singapore

Nusatrip International and Nusatrip Singapore operating in Singapore are subject to the Singapore Income Tax at a standard income tax rate of 17% during its tax year.

As of March 31, 2025 and December 31, 2024, the operation in the Singapore incurred $81,594 and $48,102, respectively, of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards have no expiration. The Company has provided for a full valuation allowance against the deferred tax assets of $1,063 as of March 31, 2025 and $8,177 as of December 31, 2024 on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Malaysia

Nusatrip Malaysia operating in Malaysia is subject to the Malaysia Income Tax at a standard income tax rate of 24% during its tax year.

As of March 31, 2025 and December 31, 2024, the operation in the Malaysia incurred $33,376 and $33,075, respectively, of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss generated in a tax year can be carried forward for ten (10) years. The Company has provided for a full valuation allowance against the deferred tax assets of $72 as of March 31, 2025 and $7,938 as of December 31, 2024, 2023 on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Indonesia

PTTSM is registered in Indonesia and is subject to the tax laws of Indonesia at a standard income tax rate of 22% during its tax year.

As of March 31, 2025 and December 31, 2024,