Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 254

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 254
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:-----|----------:|:----|:-----|--------:|
| Current income tax  |     | $                     | 302,256 |     | $    | 1,041,963 |     | $    | 133,585 |
| Deferred income tax |     |                       |       — |     |      |         — |     |      |       — |
| Income tax expense  |     | $                     | 302,256 |     | $    | 1,041,963 |     | $    | 133,585 |

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates in Hong Kong that are subject to taxes in the jurisdictions in which it operates, as follows: British Virgin Islands GIHL and GGBB are incorporated in the British Virgin Islands and is not subject to taxation. In addition, upon payments of dividends by these entities to their shareholder, no British Virgin Islands withholding tax will be imposed. Macau Tax MGGB is operating in Macau and is subject to Macau Enterprise Income Tax Law (the “Macau EIT Law”). Under the Macau EIT Law, no income tax is levied when the net income is less than MOP 600,000. Income tax is calculated at the rate of 12% for the excess, when the income exceeds $74,419 (MOP 600,000). Hong Kong BLOC is operating in Hong Kong and is subject to the Hong Kong profits tax at the two -tieredincome tax rates at the rate of 8.25% on the estimated assessable income up to HK$2,000,000 and 16.5% on any part of assessable income over HK$2,000,000 arising in Hong Kong during its tax year.

F-46

GIFTS INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE COMBINED FINANCIAL STATEMENTS NOTE 10 — INCOME TAX EXPENSE (CONT.) The reconciliation of income tax rate to the effective income tax rate based on income before income tax expense for the years ended March 31, 2023 and 2024 are as follows:

|                                       |     | Years ended March 31, 
 2023                  
 HKD                   |           |   |     | 2024 
 HKD  |           |   |     | 2024 
 USD