Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 442

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 442
---
 from April 1, 2018, a two-tier corporate income tax system was officially implemented in Hong Kong, which is 8.25% for the first HK$2.0 million profits, and 16.5% for the subsequent profits. Under the HK tax laws, it is exempted from the Hong Kong income tax on its foreign-derived income. In addition, payments of dividends from Hong Kong subsidiaries to the Company are not subject to any Hong Kong withholding tax. For the years ended March 31, 2025 and 2024, the Company recorded no income tax expenses since it made net loss for the both of the fiscal years.

| F-55 |

The following table presents the composition of income tax expenses for the years ended March 31, 2025 and 2024:

Schedule of Composition of Income Tax Expenses

|                            |     | For                       
 the Years Ended March 31, |   2025 |     |   |   2024 |
|:---------------------------|:----|:--------------------------|-------:|:----|:--|-------:|
| Current income tax expense |     | $                         |      - |     | $ |      - |
| Deferred income tax        
 expense                    |     |                           | 14,915 |     |   | 37,227 |
| Income                     
 tax expense benefits       |     | $                         | 14,915 |     | $ | 37,227 |

The following table reconciles the Hong Kong statutory rates to the Company’s effective tax rate for the years ended March 31, 2025 and 2024:

Schedule of Effective Income Tax Rate

|                                         |     |                       For 
 the Years Ended March 31, |       |   |     |      |       |   |
|                                         |     |                      2025 |       |   |     | 2024 |       |   |
| Statutory HK income tax rate            |     |                           |  8.25 | % |     |      |  8.25 | % |
| Effect of rate differential             |     |                           | -6.09 | % |     |      |     - | % |
| Effect of tax relief                    |     |                           |  0.12 | % |     |      | -0.91 | % |
| Effect of non-deductible items          |     |                           | -0.16 | % |     |      |  0.17 |