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INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES

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:

  

   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:

  

    

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, JHC Digital Sdn. Bhd. is governed under the Income Tax Act, 1967. The tax charge for such company is based on 24% of net audited profit.

 

 

JOCOM HOLDINGS CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023

(Currency expressed in United States Dollars (“US$”), except for number of shares)