Income Tax

12 Months Ended

Oct. 31, 2025

Note 10 – Income Tax

United States of America

The Company is registered in the State of Wyoming and is subject to United States of America tax law.

The Company records a tax provision for the anticipated tax consequences of the reported results of operations. In accordance with ASC 740, the provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carryforwards. The Company has no provision due to only losses to date.


	For the Year Ended October 31, 2025			For the Year Ended October 31, 2024
Net profit (loss) before income tax	$	(174,188	)	$	(32,557	)
Tax expense (benefit) at the statutory tax rate		(36,579	)		(6,837	)
Tax effect of
Valuation allowance		36,579			6,837
Net operating loss tax assets deduction		–			–
Income tax expense (benefit)	$	–		$	–

Hong Kong

Shenggang Excellence Limited operates in Hong Kong and is subject to the Hong Kong Profits Tax at the two-tiered profits tax rates from 8.25% to 16.5% on the estimated assessable profits arising in Hong Kong during the current period, after deducting a tax concession for the tax year.


	For the Year Ended October 31, 2025			For the Year Ended October 31, 2024
Net profit before income tax	$	678,295		$	–
Tax expense at the statutory tax rate		111,919			–
Tax effect of
Valuation allowance		–			–
Net operating loss tax assets deduction		–			–
Two-tiered profits tax regime		(21,167	)		–
Income tax expense	$	90,752		$	–

Deferred Tax Assets

At October 31, 2025, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $174,188 from our U.S. entities, including GMTech and Anptech, that may be offset against future taxable income. No tax benefit has been recorded with respect to these net operating loss carry-forwards in the accompanying consolidated financial statements as the management of the Company believes that the realization of the Company’s net deferred tax assets of approximately $36,579 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance.

Deferred tax assets consist primarily of the tax effect of NOL carry-forwards which was used to offset tax payable from prior year’s operations. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization.

Components of deferred tax assets are as follows:

United States of America

Schedule of deferred tax assets
	October 31, 2025			October 31, 2024
Net Deferred Tax Asset Non-Current:
Net Operating Loss Carry-Forward	$	174,188		$	32,577
Effective tax rate		21.0%			21.0%
Expected Income Tax Benefit from NOL Carry-Forward		36,579			6,837
Less: Valuation Allowance		(36,579	)		(6,837	)
Deferred Tax Asset, Net of Valuation Allowance	$	–		$	–

Hong Kong

	October 31, 2025		October 31, 2024
Deferred tax assets
Lease liability	$	12,117	$	–
Less: Valuation Allowance		–		–

Deferred tax liabilities
Right-of-use asset		12,117		–
Net deferred tax assets	$	–	$	–

- Definition

The entire disclosure for income tax.

+ References

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+ Details

GMTech Inc. 10-K