Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 151

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 19
Chunk 151
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 ( 154,372  
  Total loss before income taxes                ( 3,460,458                ( 483,812                ( 4,729,852      ( 608,912  

  (d)      Deferred  

Significant
components of the deferred tax assets (liabilities) are presented below:

SCHEDULE
OF COMPONENTS OF THE DEFERRED TAX ASSETS (LIABILITIES)

                                    2022                     2023                     2024                                  
                                    HK$                      HK$                      HK$                                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Deferred                                                                                                                  
  Net                                           715,179                750,087                  1,246,723        160,501    
  Others                                         21,654                —                        —                —          
  Deferred                                      736,833                750,087                  1,246,723        160,501    
  Less:                                       ( 736,833                ( 750,087                ( 1,246,723      ( 160,501  
  Total                                               —                —                        —                —          

The
Group evaluated the recoverable amounts of deferred tax assets to the extent that future taxable profits will be available against
which the net operating loss and temporary difference can be utilized. As of December 31, 2024, the Group had tax loss carryforwards
of approximately HK$ 7,555,895 972,733 1,246,723 160,501

As
of December 31, 2024 and 2023, the Group had no no

MAGIC EMPIRE GLOBAL LIMITED

11. OTHER INCOME

SCHEDULE
OF OTHER INCOME

                             For                                                                                     
                             the years ended                                                                         
                             December 31,                                                                            
                             2022                              2023                   2024                     2024  
                             HK$                               HK$                    HK$                      US$   
  Government                                      216,000                —                      —                    
  grant                                                                                                              
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gain                                            —                      —                      1,105,998            
  Sundry                                          —                      172,832                —                    
  Total                                           216,000                172,832                1,105,998            

12. ORDINARY SHARES

The
Company was established under the laws of British Virgin Islands on May