Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 257

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 257
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axy Payroll (HK) applies
the two-tier profits tax rate for its provision for current income and deferred taxes.

Net operating loss will be
carried forward indefinitely under Hong Kong profits tax regulation.

Macau

Galaxy HR (Macau) applies
the exemption amount for the supplementary income tax income is set at MOP600,000for its tax years of 2024 and 2023.

Corporate Income Tax in Galaxy
HR (Macau) is subject to a12% tax rate during the years ended June 30, 2025, 2024 and 2023.

The People’s Republic of China (“ PRC”)

Under the Law of The People’s
Republic of China on Enterprise Income Tax (the “ EIT Law”) and Implementation Regulation of the EIT Law, the tax rate of Galaxy
HR (SZ) is25% during the years ended June 30, 2025, 2024 and 2023.

No provision for taxation
in PRC has been made as the Group’s entities in PRC had no assessable profit.

Taiwan

Corporate Income Tax in Galaxy
HR (TW) is subject to a20% tax rate during the years ended June 30, 2025, 2024 and 2023.

The Income/(Loss) before Income
Taxes consisted of the following components:

                                               For the years ended June 30,                                                                                          
                                               2023                                              2024                       2025                                     
                                               HKD                                               HKD                        HKD                                      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Hong Kong                                    $                                 11,003,941      $           9,394,157      $            4,354,810          554,760  
  Foreign                                                                         ( 187,598                ( 2,104,865                ( 31,387,935      ( 3,998,514  
  Total Income (Loss) before Income Taxes      $                                 10,816,343      $           7,289,292      $         ( 27,033,125      ( 3,443,754  

F-21

The income tax provision consisted
of the following components:

                                        For the years ended June 30,                                                                               
                                        2023                                             2024                     2025                             
                                        HKD                                              HKD                      HKD                              
 ─────────────────────────────────────────────────────────