Company: CHOW
Filing Date: 2025-02-10
Form Type: DRS/A
Source: 0001493152-25-005658
Chunk: 279

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-02-10
Form: DRS/A
Chunk 279
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 Taxes

Deferred income taxes reflect the net tax effects
of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used
for income tax purposes. The components of the Company’s deferred tax assets and liabilities were as follows:

|                                                                               |     | As                   
 of December 31, 2023 |          |   |     | As of June 30, 2024 |          |   |     |                 |         |   |
|:------------------------------------------------------------------------------|:----|:---------------------|---------:|:--|:----|:--------------------|---------:|:--|:----|:----------------|--------:|:--|
|                                                                               |     | HK$                  |          |   |     | HK$                 |          |   |     | US$ (Note 2(e)) |         |   |
|                                                                               |     |                      |          |   |     | -Unaudited          |          |   |     | -Unaudited      |         |   |
| Deferred tax liabilities, net, beginning balance:                             |     |                      |          |   |     |                     |          |   |     |                 |         |   |
| Accelerated tax depreciation                                                  |     |                      | (214,365 | ) |     |                     | (309,198 | ) |     |                 | (39,641 | ) |
| Allowance for the expected credit losses on accounts receivable               |     |                      |  139,041 |   |     |                     |   81,463 |   |     |                 |  10,444 |   |
| Allowance for the expected credit losses on amount due from related companies |     |                      |      201 |   |     |                     |    1,268 |   |     |                 |     163 |   |
| Total deferred liabilities                                                    |     |                      |  (75,123 | ) |     |                     | (226,467 | ) |     |                 | (29,034 | ) |
| (Charged) / Credited to consolidated statement of operations:                 |     |                      |          |   |     |                     |          |   |     |                 |         |   |
| Accelerated tax depreciation                                                  |     |                      |  (94,833 | ) |     |                     | (152,481 | ) |     |                 | (19,549 | ) |
| Allowance for the expected credit