Company: GINT
Filing Date: 2025-06-06
Form Type: F-1
Source: 0001213900-25-052213
Chunk: 223

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-06
Form: F-1
Chunk 223
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 net income available to the Company’s ordinary shareholders by the weighted average number of ordinary shares outstanding during the year using the two -classmethod. The liquidation and dividend rights of the holders of the Company’s Class A and Class B ordinary shares are identical, except with respect to voting and conversion rights. As a result, under the two -classmethod in accordance with ASC 260, net income available to the Company’s ordinary shareholders is allocated between Class A and Class B ordinary shares and other participating securities based on participating rights in undistributed earnings on a proportionate basis. NOTE 11 — INCOME TAX EXPENSE The provision for income tax expense consisted of the following:

|                     |     | Six Months ended September 30, 
 2023                           
 HKD                            |         |     | 2024 
 HKD  |         |     | 2024 
 USD  |        |
|:--------------------|:----|:-------------------------------|--------:|:----|:-----|--------:|:----|:-----|-------:|
| Current income tax  |     | $                              | 320,236 |     | $    | 370,920 |     | $    | 47,742 |
| Deferred income tax |     |                                |       — |     |      |       — |     |      |      — |
| Income tax expense  |     | $                              | 320,236 |     | $    | 370,920 |     | $    | 47,742 |

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates in Hong Kong that are subject to taxes in the jurisdictions in which it operates, as follows: British Virgin Islands GIHL and GGBB are incorporated in the British Virgin Islands and is not subject to taxation. In addition, upon payments of dividends by these entities to their shareholder, no British Virgin Islands withholding tax will be imposed. Macau Tax MGGB is operating in Macau and is subject to Macau Enterprise Income Tax Law (the “Macau EIT Law”). Under the Macau EIT Law, no income tax is levied when the net income is less than MOP600,000. Income tax is calculated at the rate of 12% for the excess, when the income exceeds MOP600,000 (US$74,419). Hong Kong BLOC is operating in Hong Kong and is subject to the Hong Kong profits