Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 88

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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673)$(60)$(13,120)$(5,082)$(11,008)$(46,674)

31

Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 8 – PROVISION FOR INCOME TAXES 

The Group is subject to taxation in Kazakhstan, Kyrgyzstan, Cyprus, Uzbekistan, Germany, and the United States.The tax rates used for deferred tax assets and liabilities as of December 31, 2024, and March 31, 2024, were 21% for the United States,  20% for Kazakhstan and Azerbaijan, 10% for Kyrgyzstan, 15% for Germany, 12.5% for Cyprus, 25% for United Kingdom, 18% for Armenia and 15% for Uzbekistan. During the nine months ended December 31, 2024, and 2023, the effective tax rate was equal to 15.5% and 15.5%, respectively.

NOTE 9 – SECURITIES REPURCHASE AGREEMENT OBLIGATIONS

As of December 31, 2024, and March 31, 2024, trading securities included collateralized securities subject to repurchase agreements as described in the following table:December 31, 2024Interest rates and remaining contractual maturity of the agreementsAverage interest rate Up to 30 days30-90 daysTotalSecurities sold under repurchase agreements    Non-US sovereign debt14.89 %$1,616,269 $12,477 $1,628,746 Corporate debt14.90 %539,911 31,046 570,957 Total securities sold under repurchase agreements$2,156,180 $43,523 $2,199,703  March 31, 2024  Interest rate and remaining contractual maturity of the agreements Average interest rate Up to 30 days30-90 daysTotalSecurities sold under repurchase agreements Non-US sovereign debt13.78 %$1,545,080 $259,948 $1,805,028 Corporate debt13.84 %923,752 14,644 938,396 US sovereign debt3.06 %13,172 — 13,172 Total securities sold