Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 254

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 254
---
 this threshold is exempt from corporate tax. United States The Company’s subsidiary incorporated in the United States is subject to U.S. federal corporate income tax at a statutory rate of 21% on its taxable income, in accordance with the Internal Revenue Code. Additionally, the subsidiary may also be subject to state and local income taxes, which vary by jurisdiction. Income tax (benefit) expense for the years ended March 31, 2025, 2024, and 2023 amounted to $ 1,128,672, $ 53,291and $ 620,142, respectively. F-48 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Significant components of the provision for income
taxes are as follows:

|                            |     | For the years ended March 31, |      2025 |   |     |   |     2024 |   |     |   |     2023 |   |
|:---------------------------|:----|:------------------------------|----------:|:--|:----|:--|---------:|:--|:----|:--|---------:|:--|
| Current                    |     | $                             | 1,362,520 |   |     | $ |  723,160 |   |     | $ |  873,308 |   |
| Deferred                   |     |                               |  (233,848 | ) |     |   | (669,869 | ) |     |   | (253,166 | ) |
| Provision for income taxes |     | $                             | 1,128,672 |   |     | $ |   53,291 |   |     | $ |  620,142 |   |

(Loss) Income before income tax by jurisdiction
are as following:

|                                       |     | For the years ended March 31, |      2025 |     |   |       2024 |   |     |   |      2023 |   |
|:--------------------------------------|:----|:------------------------------|----------:|:----|:--|-----------:|:--|:----|:--|----------:|:--|
| Singapore                             |     | $                             | 3,681,089 |     | $ |   (325,917 | ) |     | $ | 1,642,666 |   |
| Hong Kong                             |     |