Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 206

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 206
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31, 2025 and March 31, 2024, were 21% for the United States, 20% for Kazakhstan and Azerbaijan, 18% for Tajikistan, 10% for Kyrgyzstan, 31% for Germany, 12.5% for Cyprus, 25% for Turkey, 25% for United Kingdom, 9% United Arab Emirates, 18% for Armenia and 15% for Uzbekistan. As of March 31, 2025 and March 31, 2024, deferred tax assets and liabilities of the Company were comprised of the following: Year ended March 31, 2025 Year ended March 31, 2024 Deferred tax assets: Revaluation on trading securities $ — $ 454 Tax losses carryforward 4,871 3,809 Deferred acquisition costs and insurance reserves 6,669 — Provision for impairment losses 12,181 8,210 Deferred tax assets $ 23,721 $ 12,473 Deferred tax liabilities: Revaluation on trading securities $ 874 $ 1,447 Fixed and Intangible Assets 4,425 7,535 Other liabilities 1,038 335 Deferred tax liabilities $ 6,337 $ 9,317 Net deferred tax assets $ 17,446 $ 3,222 Net deferred tax liabilities $ 62 $ 66 The Company is subject to the U.S. federal income taxes at a rate of 21%. The reconciliation of the amount computed by multiplying income before provision for income taxes at the 21% income tax rate compared to the Company's income tax expense as reported is as follows: Year ended March 31, 2025 Year ended March 31, 2024 Year ended March 31, 2023 Income before income tax at 21% $ 23,719 $ 91,428 $ 49,547 Global intangible low taxed income 65,308 60,323 39,139 Stock based compensation 10,597 4,601 2,039 Subpart F Income 4,750 6,887 4,732 Permanent differences 4,158 58,872 14,096 Top-up tax 3,743 — — Foreign tax rate differential (18,944) (17,665) (13,089) Foreign tax credit (21,118) (14,915) (18,423) Nontaxable gains (43,788) (129,112) (35