Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 281

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 281
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The reconciliation between the Hong Kong statutory
income tax rate applicable to the Company’s profits and the income tax expense is presented below:

|                                                |     | For the Six Months Ended June 30, |           |   |     |            |           |   |     |                 |           |   |
|                                                |     |                              2023 |           |   |     |       2024 |           |   |     |                 |           |   |
|                                                |     |                               HK$ |           |   |     |        HK$ |           |   |     | US$ (Note 2(e)) |           |   |
|                                                |     |                        -Unaudited |           |   |     | -Unaudited |           |   |     | -Unaudited      |           |   |
| Profit before provision for income taxes       |     |                                   | 7,546,825 |   |     |            | 8,105,176 |   |     |                 | 1,039,125 |   |
| Income tax expenses computed at statutory rate |     |                                   | 1,245,226 |   |     |            | 1,337,353 |   |     |                 |   171,456 |   |
| Tax effect of preferential tax rate            |     |                                   |  (165,000 | ) |     |            |  (165,000 | ) |     |                 |   (21,154 | ) |
| Tax effect of income not subject to tax        |     |                                   |   (21,351 | ) |     |            |    (1,737 | ) |     |                 |      (223 | ) |
| Tax effect of tax deduction                    |     |                                   |    (3,000 | ) |     |            |         - |   |     |                 |         - |   |
| Total income tax expense                       |     |                                   | 1,055,875 |   |     |            | 1,170,616 |   |     |                 |   150,079 |   |

| F-71 |

Deferred 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