Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 236

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 236
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 taxes.

F-27

Flower Crown Holding was incorporated
in the Cayman Islands, and, under the current laws of the Cayman Islands, is not subject to income taxes.

Flower Crown (China) Holding Group Co.,
Ltd. was incorporated in Hong Kong, and, under the current laws of Hong Kong, is subject to income taxes of16.5%. Currently, Flower
Crown (China) Holding Group Co., Ltd. is in accumulated loss, no income tax expense or deferred tax assets was considered.

The tax charge for the Company can be
divided into non-PRC entities and PRC entities. As for the non-PRC entities, all the entities are expense center and not subject to any
tax and also no deferred tax assets are considered. The accumulated loss for the non-PRC as of December 31, 2024 is $73,017,943.

The following table reconciles the income
tax calculated at statutory rate of China of25% to the Company’s effective income tax for the years ended December 31, 2024, 2023
and 2022:

                                                               Year ended December 31,                                   
                                                                                  2024                                   
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Profit before income tax (continuing business)                             3,818,032      3,043,779      ( 55,382,660  
  Tax calculated at a tax rate of 25%                                          954,508      760,945        ( 13,845,665  
  Effect of preferential tax rate                                            ( 416,084      6,614            13,471,587  
  Permanent difference for non-deductible expense                              253,296      -                     1,035  
  Permanent difference for non-tax or favorable tax items                     ( 27,069      -                         -  
  Deferred tax not provided for                                                125,289      6,260               384,958  
  Operating loss deducted in current year                                    ( 145,715      ( 773,819          ( 11,294  
  Income tax expense                                                           744,225      -                       621  

PRC entities are operating entities
and may be subject to income tax and deferred tax are considered. In 2022, menswear business was disposed and the temporary difference
was reversed accordingly. For prudence purpose, the Company did not consider the deferred tax