Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 149

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 18
Chunk 149
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, 2023, 2024 and 2025, respectively.

F-16

Table of Contents

DESWELL INDUSTRIES, INC.

7. Other Accrued Liabilities

Other accrued liabilities consist of the following:

                        March 31,                                  
                        2024                      2025             
 ───────────────────────────────────────────────────────────────────
  Accrued expenses      $                806      $           479  
  Others                                 430                  535  
                        $              1,236      $         1,014  

8. Income Taxes

Net income before taxes of, $2,314, $7,819and $11,300were solely attributed by non-U. S. operations for the years ended March 31, 2023, 2024 and 2025, respectively.

Under current BVI law, the Company’s income is not subject to taxation in the British Virgin Islands. Subsidiaries operating in Hong Kong and the PRC are subject to income taxes as described below, and the subsidiaries operating in Macao are exempted from income taxes. Under the current Samoa Law, subsidiary incorporated in Samoa is not subject to profit tax as it has no business operations in Samoa.

Effective from January 1, 2021, profit in excess of Macau Patacas (“ MOP$”) MOP$600derived from subsidiaries incorporated in Macau are subject to Macau Complementary Tax of12%.

In accordance with the PRC Income Tax Law, the standard income tax for all subsidiaries operating in the PRC is25%.

The provision for income taxes consists of the following:

                    Year ended March 31,                                                      
                    2023                                 2024                 2025            
 ──────────────────────────────────────────────────────────────────────────────────────────────
  Current tax                                                                                 
  – PRC             $                           164      $           143      $            6  
  – Macau                                       246                  126                 176  
  Deferred tax                                ( 155                ( 159                ( 20  
                    $                           255      $           110      $          162  

Reconciliation between the provision for income taxes computed by applying the statutory tax rate in the PRC to income before income taxes and the actual provision for income taxes is as follows:

                                                                   Year ended March 31,                                                           
                                                                   2023                                 2024                   2025               
 ─────────────────────────────────────────────────────────────────