Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 636

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 10
Chunk 636
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, interest-free and repayable on demand.

11. INCOME TAXES

For the year ended December 31, 2024, the local (United
States) and foreign components of loss before income taxes were comprised of the following:

 SCHEDULE OF FOREIGN COMPONENTS OF LOSS BEFORE INCOME TAXES 

    For the year  ended  December 31, 2024  
    For the year ended December 31, 2023 
  
    Tax jurisdictions from: 

    Local 
    $(30,441) 
     (90,563)
  
    Foreign, representing 

    - Labuan 
    $101,427  
     (66,328)
  
    - Malaysia (other than Labuan) 
    $(2,467) 
    $- 
  
    Profit/(Loss) before income tax 
    $68,519  
     (156,891)

The provision for income taxes consisted of the following:

 SCHEDULE OF PROVISION INCOME TAXES 

     For the year ended December 31, 2024  
     For the year ended December 31, 2023 

    Current: 

    - Local 
    $-  
    $- 
  
    - Foreign 
     -  
     - 
  
    Income tax expense 
    $-  
    $- 

The effective tax rate in the years presented is the
result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries
that operate in various countries: United States Labuan and Hong Kong that are subject to taxes in the jurisdictions in which they operate,
as follows:

United States of America

The Company is registered in the State of Nevada and
is subject to the tax laws of the United States of America. As of December 31, 2024, the operations in the United States of America incurred
$598,731 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carry
forwards begin to expire in 2041, if unutilized.

Labuan

Under the current laws of the Labuan, Jocom Holdings
Corp.is governed under the Labuan Business Activity Act, 1990. The tax charge for such company is based on 3% of net audited profit.

Malaysia (Other than Labuan)

Under the current laws of Malaysia, J