Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 333

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 333
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 is calculated
at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect
thereof. The applicable corporate income tax rate is 20% in Thailand.

China

The Company’s subsidiary incorporated
in China is governed by the income tax laws of China and the income tax provision in respect of operations in China is calculated at
the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect
thereof. The applicable corporate income tax rate is 25% in China.

Income tax expense for the years ended
March 31, 2025 and 2024 amounted to $893,015 and $955,401, respectively.

The current and deferred components
of income tax expenses appearing in the consolidated statements of comprehensive income are as follows:

|                            |     | For the year ended March 31, |    2025 |   |     |   |    2024 |
|:---------------------------|:----|:-----------------------------|--------:|:--|:----|:--|--------:|
|                            |     | $                            |         |   |     | $ |         |
| Current income tax expense |     |                              | 913,767 |   |     |   | 955,401 |
| Deferred income tax credit |     |                              | (20,752 | ) |     |   |       – |
|                            |     |                              | 893,015 |   |     |   | 955,401 |

<div align='center'>F-85

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in Singapore dollars (“$”)</div>

| 18. | Taxation (continued) |

A reconciliation between income tax
expenses and the product of accounting profit multiplied by the applicable corporate rate for the years ended March 31, 2025 and 2024
is as follows:

|                                                              |     | For the year ended March 31, |      2025 |   |     |   |      2024 |   |
|:-------------------------------------------------------------|:----|:-----------------------------|----------:|:--|:----|:--|----------:|:--|
|                                                              |     | $                            |           |   |     | $ |           |   |
| Net income before taxes                                      |     |                              | 4,952,100 |   |