Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 191

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 191
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 — 12.5% based on employee’s monthly salary; |

People of republic of China (“PRC”) subsidiary

| — | Social Security and Housing Provident Fund Contributions — Employers are required to contribute to five statutory social insurance programs (pension, medical, unemployment, maternity, and work-related injury) and the housing provident fund. The total employer contribution rate typically ranges from approximately 30% to 40% of each employee’s monthly salary, subject to minimum and maximum contribution bases set by local authorities. The exact contribution rates and bases vary by city and province. |

<div align='center'>F-20

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Revenue represents the invoiced
value of service, net of applicable GST or VAT. The GST is chargeable on gross sales price. In Singapore, GST rate is 8% on gross sales
price for calendar year 2023 and 9% for calendar year 2024. In the United Kingdom, VAT is 20%; in China, VAT is generally 13%, with reduced
rates of 9% and 6% for specific industries; and in Dubai, United Arab Emirates, VAT is 5%. Entities that are GST/VAT-registered are allowed
to offset qualified input GST/VAT paid to suppliers against their output GST/VAT liabilities. Net GST/VAT balance between input GST/VAT
and output GST/VAT is recorded in tax payable or receivable.

The Company accounts for
income taxes in accordance with ASC 740, Income tax. The charge for taxation is based on the results for the fiscal year and adjusted
for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by
the balance sheet date

Deferred tax is calculated
using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets
and liabilities in the consolidated financial statements and the corresponding tax basis. In principle, deferred tax liabilities are recognized
for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is more likely than not that taxable income
will be utilized with prior net operating loss carried forwards using tax rates that are expected to apply to the period when the asset
is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items
credited or charged directly