Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 341

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 341
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 of profits (losses) of joint ventures represents our share of losses or profits of our joint venture in the business of investment holding and our Singapore joint venture in the business of hotel investment. Finance costs Our finance costs were US$2.6 million, US$7.1 million, US$2.8 million and US$4.8 million in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Finance costs consist primarily of interests on our borrowings and interests on amounts due to non -controllingshareholders of our subsidiaries. Taxation Cayman Islands The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, capital gains or appreciation and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in or brought within the jurisdiction of the Cayman Islands. In addition, the Cayman Islands does not impose withholding tax on payments of dividends. France In France, corporate income tax rate of 15% applies to the first €38,120 of taxable profits for entities realizing a turnover up to €10 million for the years ended December 31, 2022 and 2023. The corporate income tax rate above €38,120 of taxable profits is 25% during the year ended December 31, 2022 and 2023. Italy Italian corporate entities are subject to a corporate income tax of 24%, and to a regional production tax of 3.9% during the year ended December 31, 2022 and 2023. United States In the United States, the federal corporate tax rate is a flat rate of 21% during the year ended December 31, 2022 and 2023. New York, where one of our subsidiaries domiciles, has a 6.50% to 7.25% corporate income tax rate during the year ended December 31, 2022 and 6.50% to 8.85% corporate income tax rate during the year ended December 31, 2023 and six months ended June 30, 2024. Southeast Asia Malaysian corporate income tax is 25% of the chargeable income during the year ended December 31, 2022 and 2023. Singapore tax on corporate income is imposed at a flat rate of