Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 268

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 3
Chunk 268
---
31, 2024  
     For the year ended December 31, 2023 

    Current: 

    - Local 
    $-  
    $- 
  
    - Foreign 
     -  
     - 
  
    Income tax expense 
    $-  
    $- 

The effective tax rate in the years presented is the
result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries
that operate in various countries: United States Labuan and Hong Kong that are subject to taxes in the jurisdictions in which they operate,
as follows:

United States of America

The Company is registered in the State of Nevada and
is subject to the tax laws of the United States of America. As of December 31, 2024, the operations in the United States of America incurred
$598,731 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carry
forwards begin to expire in 2041, if unutilized.

Labuan

Under the current laws of the Labuan, Jocom Holdings
Corp.is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of net audited profit.

Malaysia (Other than Labuan)

Under the current laws of Malaysia, JHC Digital Sdn. Bhd. is governed under the Income Tax Act, 1967. The tax charge
for such company is based on 24% of net audited profit.

    F-14

JOCOM HOLDINGS CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER
31, 2024 AND 2023

(Currency expressed in United States Dollars (“US$”),
except for number of shares)

12. RELATED PARTY TRANSACTIONS

 SCHEDULE OF RELATED PARTY TRANSACTIONS 

    As of December 31, 2024  
    As of December 31, 2023 
  
    Jocom MShopping Sdn. Bhd.1 

    - Revenue 
    $6,000  
    $24,000 

    Joshua Sew 2 

    - IT Advisory Fee 
    $-  
    $7,035 
  
    Khoo Ghi Geok 3 

    - Accounting Fee 
    $10,