Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 246

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 246
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 not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in
the Cayman Islands and the BVI.

Hong Kong

On March 21, 2018, the Hong Kong Legislative
Council passed The Inland Revenue (Amendment) (No. 7) Bill 2017 (the “ Bill”) which introduces the two-tiered profits tax
rates regime. The Bill was signed into law on March 28, 2018 and was gazetted on the following day. Under the two-tiered profits tax
rates regime, the first HK$2 million of profits of the qualifying group entity will be taxed at 8.25%, and profits above HK$2 million
will be taxed at 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be
taxed at a flat rate of 16.5%.

For the years ended September 30, 2022,
2023 and 2024, Hong Kong Government allowed tax reduction of100% of the profits tax payable, subject to a ceiling of HK$10,000, HK$6,000and HK$3,000(US$1,282, US$769and USD385).

For the years ended September 30, 2022,
2023 and 2024, the Company generated substantially all of its taxable income in the Hong Kong. The tax expenses records in the Company’s
result of operations are almost entirely attributable to income earned in the Hong Kong. Should the Company’s operations expand
or change in the future, where the Company generates taxable income in other jurisdictions, the Company’s effective tax rates may
substantially change.

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

SCHEDULE
OF PROVISION FOR INCOME TAXES

                             For the year ended                                                             
                             September 30,                                                                  
                             2022                                 2023                   2024               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Hong Kong profit tax:                                                                                     
  - Current income tax       $                       127,843      $         193,020      $         224,195  
  - Tax Concession                                   ( 1,282                  ( 769                  ( 385  
  Income tax expenses        $                       126,561      $         192,251      $         223,810  

The effective tax rates