Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 196

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 196
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 the BVI, entities incorporated in the BVI are not subject to tax on their income or capital gains. In addition, dividends paid by the BVI subsidiaries to their respective shareholders who are not residents of the BVI, if any, are not subject to withholding tax in the BVI. Japan The Company conducts its major businesses in Japan and is subject to tax in this jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authority. Income taxes in Japan applicable to the Company are imposed by the national, prefectural, and municipal governments, and in the aggregate, resulted in an effective statutory rate of approximately 34.59% for the years ended March 31, 2025 and 2024. For the years ended March 31, 2025 and 2024 the details of income tax expenses (benefit) are set forth below:

|                                     |     | For the years ended 
 March 31,           
 2025                |         |     | 2024 |          |   |
|:------------------------------------|:----|:--------------------|--------:|:----|:-----|:---------|:--|
| Current                             |     | $                   | 187,599 |     | $    | —        |   |
| Deferred                            |     |                     | 201,691 |     |      | (160,167 | ) |
| Total income tax expenses (benefit) |     | $                   | 389,290 |     | $    | (160,167 | ) |

A reconciliation of the Japanese statutory income tax rate and the Group’s actual income tax provision for the years ended March 31, 2025 and 2024, respectively, were as follows:

|                                                      |     | For the years ended 
 March 31,           
 2025                |           |   |     | 2024 |          |    |
|:-----------------------------------------------------|:----|:--------------------|----------:|:--|:----|:-----|:---------|:---|
| Income (loss) before income tax expense              |     | $                   | 1,606,266 |   |     | $    | (463,053 | )  |
| Income tax expense at the Japan statutory rate       |     |                     |   555,596 |   |     |      | (160,167 | )  |
| Impact of different tax rates in other jurisdictions |     |