Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 332

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 332
---
18. | Taxation |

Singapore

The Company’s subsidiaries incorporated
in Singapore, are subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in
accordance with relevant Singapore tax laws. The applicable corporate income tax rate is 17% in Singapore, with 75% of the first $10,000
taxable income and 50% of the next $190,000 taxable income being exempted from income tax.

Malaysia

The Company’s subsidiary incorporated
in Malaysia is governed by the income tax laws of Malaysia and the income tax provision in respect of operations in Malaysia is calculated
at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect
thereof. Under the Income Tax Act of Malaysia, enterprises that are incorporated in Malaysia are usually subject to a unified 24% enterprise
income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on a case-by-case basis.

Thailand

The Company’s subsidiary incorporated
in Thailand is governed by the income tax laws of Thailand and the income tax provision in respect of operations in Thailand is calculated
at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect
thereof. The applicable corporate income tax rate is 20% in Thailand.

China

The Company’s subsidiary incorporated
in China is governed by the income tax laws of China and the income tax provision in respect of operations in China is calculated at the
applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof.
The applicable corporate income tax rate is 25% in China.

Income tax expense for the years ended
March 31, 2025 and 2024 amounted to $893,015 and $955,401, respectively.

The current and deferred components
of income tax expenses appearing in the consolidated statements of comprehensive income are as follows:

|                            |     | For the year ended March 31, |    2025 |   |     |   |    2024 |
|:---------------------------|:----|:-----------------------------|--------:|:--|:----|:--|--------:|
|                            |     | $                            |         |   |     | $ |         |
| Current income tax expense |     |                              | 913,767 |   |     |   | 955,401 |
| Deferred income tax credit |