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Note 15 - Income taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

12 Months Ended

Dec. 31, 2024

Tables/Schedules

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles Singapore statutory rates to the Company’s effective tax rate:

	For the Years Ended December 31,
	2024				2023				2022
Singapore income tax rate		17.0	%			17.0	%			17.0	%
Difference from the effect of tax rates in a foreign jurisdiction (PRC)		19.8	%			(14.6)	%			1.0	%
Effect of preferential tax rates		(20.1)	%			7.9	%			1.2	%
Effect of changes in tax rates		(23.5)	%			-	%			-	%
Tax rebate in Singapore		8.9	%			(2.0)	%			(0.7)	%
Additional R&D deduction		38.1	%			(10.1)	%			(4.6)	%
Change in valuation allowance		(0.5)	%			36.4	%			0.4	%
Permanent differences (1)		(33.4)	%			6.9	%			3.8	%
Effect of true-up on NOL		(74.2)	%			-	%			-	%
Interest on uncertain tax position		(26.8)	%			-	%			-	%
Effective tax rate		(94.7)	%			41.5	%			18.1	%

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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