Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 244

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 244
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 tax credit used for GILTI and Subpart F Income taxes(5,378)Foreign tax credit used for Pillar II(4,805)Income tax expense effect, net of foreign tax credits4,535 Income before income tax expenses for six month ended September 30, 2025101,001 Effect on the consolidated effective tax rate4.49 %The new Tax Code of Kazakhstan, effective from January 1, 2026, is mainly aimed at reducing the volume of tax exemptions and transitioning to differentiated tax rates across various sectors of the economy. The new Tax Code provides for an increase in the corporate income tax rate for the banking sector to 25%, except for income from business lending, the elimination of VAT exemptions on certain financial operations, and an increase in the VAT rate to 16%. In addition, the new Tax Code does not stipulate an additional 10% tax. Income from government securities will be partially tax exempted from taxable income with a limit up to 50% from total income from government securities. On July 4, 2025, US President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”). The OBBBA includes various provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The OBBBA has multiple effective dates, with certain provisions effective from April 1, 2026 and others implemented through 2027.

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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 9 – SECURITIES REPURCHASE AGREEMENT OBLIGATIONS

As of September 30, 2025, and March 31, 2025, trading securities included collateralized securities subject to repurchase agreements as described in the following table:September 30, 2025Interest rates and remaining contractual maturity of the agreementsAverage interest rate Up to 30 days30-90 daysTotalSecurities sold under repurchase agreements    Non-US sovereign debt15.47 %$575,652 $6 $575,658 Corporate debt15.96 %180,626 49,268 229,894 Corporate equity16.00 %792