Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 288

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 288
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ations and Businesses. Effective from June 1, 2023, the UAE implemented a corporate tax regime at a standard rate of 9% on taxable
income exceeding AED 375,000. Income up to this threshold is exempt from corporate tax.

United States

The Company’s subsidiary
incorporated in the United States is subject to U.S. federal corporate income tax at a statutory rate of 21% on its taxable income, in
accordance with the Internal Revenue Code. Additionally, the subsidiary may also be subject to state and local income taxes, which vary
by jurisdiction.

Income tax (benefit) expense
for the years ended March 31, 2025, 2024, and 2023 amounted to $1,128,672, $53,291 and $620,142, respectively.

<div align='center'>F-48

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

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

|                            |     | For the years ended March 31, |      2025 |   |     |   |     2024 |   |     |   |     2023 |   |
|:---------------------------|:----|:------------------------------|----------:|:--|:----|:--|---------:|:--|:----|:--|---------:|:--|
| Current                    |     | $                             | 1,362,520 |   |     | $ |  723,160 |   |     | $ |  873,308 |   |
| Deferred                   |     |                               |  (233,848 | ) |     |   | (669,869 | ) |     |   | (253,166 | ) |
| Provision for income taxes |     | $                             | 1,128,672 |   |     | $ |   53,291 |   |     | $ |  620,142 |   |

(Loss) Income before income tax by jurisdiction
are as following:

|                                       |     | For the years ended March 31, |      2025 |     |   |       2024 |   |     |   |      2023 |   |
|:--------------------------------------|:----|:------------------------------|----------:|:----|:--|-----------:|:--|