v3.26.1
INCOME TAX EXPENSE
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAX EXPENSE

NOTE－16 INCOME TAX EXPENSE

 

The provision for income taxes consisted of the following:

 

           2024   2025 
   Year ended December 31, 
   2023     2024   2025 
   S$’000      S$’000    S$’000 
                   
Income tax expense                
Current year    681  -    994 
(Over)/under-provision in prior years    (360 )    300    (13)
Deferred tax expense    725      431    596 
Income tax expense    1,046      731    1,577 

 

The Company is subject to taxes in the jurisdictions in which it operates, as follows:

 

Cayman Islands

 

Ten-League International Holdings Limited is an exempted Cayman Islands company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States.

 

BVI

 

Ten-League Venture Capital Limited is an exempted British Virgin Islands company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States.

 

Singapore

 

Ten-League Engineering & Technology Pte. Ltd and Ten-League Port Engineering Solutions Pte. Ltd are operating in Singapore and are subject to the Singapore tax law at the corporate tax rate at 17% on the assessable income arising in Singapore during its tax year.

 

The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the year ended December 31, 2023, 2024 and 2025 are as follows:

 

 SCHEDULE OF EFFECTIVE INCOME TAX RATE 

           2024   2025 
   Year ended December 31, 
   2023     2024   2025 
   S$’000      S$’000    S$’000 
                   
Income before income taxes    8,126      2,615    7,163 
Statutory income tax rate    17 %    17%   17%
Income tax expense at statutory rate    1,381      445    1,218 
(Over)/ Under provision in previous financial year    (360 )    300    (13)
Tax effect of non-taxable income    (228 )    (133)   - 
Tax effect of non-deductible items    156      41    489 
Tax effect on temporary differences    211      78    (22)
Statutory stepped income tax exemption   

(114

 )    -    (95)
                   
Income tax expense    1,046      731    1,577 

 

Uncertain tax positions

 

The Company evaluates the uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2023, 2024 and 2025, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the financial year ended December 31, 2023, 2024 and 2025 and also did not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2025.