XML 46 R24.htm IDEA: XBRL DOCUMENT
v3.26.1

INCOME TAX | 12 Months Ended
--- | ---
Mar. 31, 2026
Income Tax Disclosure [Abstract] |
INCOME TAX |
14. | INCOME TAX
The Company is subject to income taxes in the jurisdictions in which it operates, as follows: Cayman Islands Vantage Corp is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to income, corporate, capital gains or withholding taxes. Accordingly, no provision for Cayman Islands income taxes has been made in the accompanying consolidated financial statements. British Virgin Islands (“BVI”) Vantage (BVI) Corporation is incorporated in the British Virgin Islands. Under the current laws of the British Virgin Islands, the entity is not subject to income, corporate, capital gains or withholding taxes. Accordingly, no provision for British Virgin Islands income taxes has been made in the accompanying consolidated financial statements. Singapore The Company’s Singapore subsidiaries are subject to Singapore corporate income tax at the prevailing statutory rate of 17% on taxable income. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
14. | INCOME TAX - CONTINUED
United Arab Emirates (“UAE”) Effective June 1, 2023, the UAE introduced a federal corporate income tax at a statutory rate of 9% on taxable income exceeding AED375,000. During the year ended March 31, 2026, the Company’s UAE subsidiary did not incur taxable income in excess of the applicable threshold. Accordingly, no UAE corporate income tax provision was recognized. Hong Kong The Company’s Hong Kong subsidiary is subject to Hong Kong Profits Tax under the Inland Revenue Ordinance. No Hong Kong Profits Tax provision was recognized for the year ended March 31, 2026 as the subsidiary’s profits were derived from sources outside Hong Kong and, accordingly, were not subject to Hong Kong Profits Tax. People’s Republic of China (“PRC”) The Company’s PRC subsidiary is subject to Enterprise Income Tax (“EIT”) in accordance with the Enterprise Income Tax Law of the People’s Republic of China. The statutory EIT rate applicable to the Company’s PRC subsidiary is 25%. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the periods in which the temporary differences are expected to reverse. The effect of changes in tax laws or tax rates is recognized in the consolidated statements of income in the period that includes the enactment date. The Company recognizes liabilities for uncertain tax positions when it is more likely than not that a tax position will not be sustained upon examination by the relevant tax authorities based on the technical merits of the position. Interest and penalties, if any, related to uncertain tax positions are recognized as a component of income tax expense. The components of income tax expense were as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | For the Years Ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | US$ |  |  | US$ |  |  | US$ |
Current income tax |  |  | 1,051,644 |  |  |  | 853,048 |  |  |  | 193,117 |
Over provision of current taxation in respect of prior year |  |  | (5,508 | ) |  |  | (26,782 | ) |  |  | (29,659 | )
Deferred income tax |  |  | (625 | ) |  |  | (340 | ) |  |  | (7,750 | )
Income tax expense |  |  | 1,045,511 |  |  |  | 825,926 |  |  |  | 155,708 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
14. | INCOME TAX - CONTINUED
The reconciliation of total income tax rate to the effective income tax rate based on income before income taxes for the years ended Mar 31, 2024, 2025 and 2026 are as follows: SCHEDULE OF RECONCILIATION OF TOTAL INCOME TAX RATE TO THE EFFECTIVE INCOME TAX RATE
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | For the Years Ended March 31, |
|  | 2024 |  |  | 2025 |  |  | 2026 |
|  | US$ |  |  | US$ |  |  | US$ |
Income before tax expenses: |  |  | 5,999,995 |  |  |  | 4,668,811 |  |  |  | (1,160,962 | )
Tax at Singapore statutory rate of 17%* |  |  | 1,019,999 |  |  |  | 793,698 |  |  |  | (197,364 | )
Tax effect of expenses that are not deductible in determining taxable profit |  |  | 26,989 |  |  |  | 51,953 |  |  |  | 140,479 |
Non-taxable income |  |  | (26,850 | ) |  |  | (21,389 | ) |  |  | (19,560 | )
Current year loss for which deferred tax asset is not recognized |  |  | 19,080 |  |  |  | - |  |  |  | - |
Tax exemption |  |  | (12,959 | ) |  |  | (15,052 | ) |  |  | (36,908 | )
Overprovision current taxation in respect of prior year |  |  | (5,508 | ) |  |  | (26,782 | ) |  |  | (29,659 | )
Overprovision of deferred tax assets for prior year |  |  | (102 | ) |  |  | - |  |  |  | - |
Effect of Different Tax Rates in Other Jurisdiction |  |  | - |  |  |  | 43,498 |  |  |  | 307,574 |
Others |  |  | 24,862 |  |  |  | - |  |  |  | - |
Reversal arising from amortization of acquired customer relationship intangible assets |  |  | - |  |  |  | - |  |  |  | (8,854 | )
Income tax expense |  |  | 1,045,511 |  |  |  | 825,926 |  |  |  | 155,708 |
* |  | The Company has reconciled to the Singapore statutory tax rate of 17% to reflect the location of the Company’s operating activities and rather than reconciling to Cayman Islands statutory tax rate of 0%.
As of March 31, 2026, the Company had no unrecognized tax benefits. The Company did not recognize any interest or penalties related to uncertain tax positions for the years ended March 31, 2024, 2025 and 2026. The Company does not expect its unrecognized tax positions to change materially within the next twelve months.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477617/942-740-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478822/944-740-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration