Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 97

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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904)$(30)$(82,005)Allowance for credit lossesMortgage loanLoans to SMECorporate loansRetail loansCar loansRight of claim for purchased retail loansOtherTotalMarch 31, 2024(3,034)(19,558)(10)(150)(14,260)(6,575)(31)$(43,618)Charges(1,942)(14,386)(225)(244)(2,687)(4,432)(27)(23,943)Recoveries780 4,525 17 47 5,193 4,534 — 15,096 Write off— 43 — 4 260 — 30 337 Forex261 1,768 9 18 916 466 — 3,438 September 30, 2024$(3,935)$(27,608)$(209)$(325)$(10,578)$(6,007)$(28)$(48,690)

35

Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

NOTE 8 –  PROVISION FOR INCOME TAXES 

The Group is subject to taxation in Kazakhstan, Kyrgyzstan, Cyprus, Uzbekistan, Germany, Tajikistan, Turkey, the United Arab Emirates, the United Kingdom and the United States of America.The tax rates used for deferred tax assets and liabilities as of September 30, 2025, and March 31, 2025, were 21% for the United States,  20% for Kazakhstan and Azerbaijan, 18% for Tajikistan, 10% for Kyrgyzstan, 15% for Germany, 12.5% for Cyprus, 25% for Turkey, 25% for United Kingdom, 9% for United Arab Emirates, 18% for Armenia and 15% for Uzbekistan. During the six months ended September 30, 2025, and 2024, the effective tax rate was equal to 31.6% and 12.5%, respectively.On July 15 and 18, 2025, the President of the Republic of Kazakhstan signed the Law on Amendments to the current Tax Code of the Republic of Kazakhstan, as well as the new Tax Code of the Republic of Kazakhstan, which will come