Company: GINT
Filing Date: 2025-10-15
Form Type: F-1/A
Source: 0001213900-25-099087
Chunk: 222

Company: Gifts International Holdings Ltd
Filing Date: 2025-10-15
Form: F-1/A
Chunk 222
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271 | ) |     |      |    (292 | ) |
| Expenses not subject to tax deduction |     |                       |   210,672 |   |     |      |   320,779 |   |     |      |  41,231 |   |
| Tax adjustments                       |     |                       |  (210,368 | ) |     |      |  (295,593 | ) |     |      | (37,994 | ) |
| Tax holidays                          |     |                       |  (165,000 | ) |     |      |  (166,500 | ) |     |      | (21,401 | ) |
| Income tax expense                    |     | $                     | 1,041,963 |   |     | $    | 1,096,277 |   |     | $    | 140,911 |   |

Uncertain tax positions The Company evaluates the uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of March 31, 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 years ended March 31, 2024 and 2025 and also did not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from March 31, 2025. NOTE 12 — PENSION COSTS Defined contribution plan The Company is required to make contribution to their employees under a government -mandateddefined contribution pension scheme for its eligible full -timesemployees in Hong Kong. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. For the years ended March 31, 2024 and 2025, the contribution to the defined contribution plans was approximately HK$469,641 and HK$544,375 (US$69,972), respectively. Define benefit plan The Company also recognizes long service payments to be made by the Company to its employees upon the termination of services as a defined benefit plan under post -employmentbenefits. The defined benefit liabilities relate to government -mandatedlong -servicepayments. All full -timeemployees, including executive directors, are covered by program. An employee employed under a continuous contract for not less than five years is eligible for long service payments if the employee retires, resigns