Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 206

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 206
---
9 (“2018/2019”). As from the tax year of 2018/2019
onwards, under the two-tier profit tax rates regime, our subsidiaries incorporated in Hong Kong were subject to Hong Kong profit tax
rates at 8.25% on assessable profits up to HKD2,000,000 (approximately US$256,000), and 16.5% on any part of assessable profits over
HKD2,000,000 (approximately US$256,000).

Under
Hong Kong tax laws, our Hong Kong subsidiaries are exempted from Hong Kong income tax on its foreign-derived income. In addition, payments
of dividends from our Hong Kong subsidiaries to us are not subject to any withholding tax in Hong Kong. See “ Dividend Policy”
for further details on our dividend policy.

Macau

Entity
incorporated in Macau is subject to corporate income tax in Macau at the rate of 12%.

PRC

Entity
incorporated in PRC is subject to EIT in PRC at the rate of 25%.

Taiwan

Entity
incorporated in Taiwan is subject to corporate income tax in Taiwan at the rate of 20%.

United
States Federal Income Taxation

The
following discussion is a summary of U. S. federal income tax considerations relating to the ownership and disposition of our Ordinary
Shares by a U. S. Holder (as defined below) that acquires our Ordinary Shares in this offering and holds our Ordinary Shares as “capital
assets” (generally, property held for investment) under the U. S. Internal Revenue Code of 1986, as amended, or the Code. This discussion
is based upon existing U. S. federal tax law, which is subject to differing interpretations or change, possibly with retroactive effect.
No ruling has been sought from the U. S. Internal Revenue Service, or the IRS, with respect to any U. S. federal income tax consequences
described below, and there can be no assurance that the IRS or a court will not take a contrary position. This discussion does not address
the U. S. federal estate, gift, Medicare, and alternative minimum tax considerations, certain information reporting requirements pursuant
to section 1471 through 1474 of the Code, or any state, local, and non-U. S. tax considerations, relating to the ownership or disposition
of our Ordinary Shares. This discussion, moreover, does not discuss all aspects of U.