Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 200

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 200
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ATED FINANCIAL STATEMENTS (Unaudited) 10.Income Taxes (cont.) Republic of Philippines The Company’s VIE entities in the Philippines are governed by the income tax law of the Philippines and are subject to the Philippines income tax (“PIT”). According to the CREATE Law (RA 11534) in the Philippines, the corporate income tax (“CIT”) rate for domestic corporations and resident foreign corporations has been reduced from 30% to 25%, effective from July 1, 2020 to December 31, 2022; with the exception for corporations having net taxable revenue of less than PHP 5 million and total assets of less than PHP 100 million, which is taxed at a rate of 20%. The rule further stipulates a gradual reduction in the CIT rate by 1% per year from 2023 to 2027, reaching 20% by 2027. Specifically, the annual CIT rates will be 25% for the period from July 1, 2020, to December 31, 2022, 24% in 2023, 23% in 2024, 22% in 2025, 21% in 2026, and finally 20% from 2027 onwards. The statutory income tax rate for Yoda Metal is 23% for the six months ended June30, 2024 and 24% for the six months ended June30, 2023; and for DL Metal is 20% for the six months ended June 30, 2024 and 2023, respectively. A reconciliation of the income tax expense, net determined at the Philippines statutory income tax rate to the Company’s actual income tax expense is as follows:

|                                                |     | Six Months Ended 
 June 30,         
 2024             
 (unaudited)      |           |   |     | 2023        
 (unaudited) |           |   |
|:-----------------------------------------------|:----|:-----------------|----------:|:--|:----|:------------|----------:|:--|
| Income before income tax expense               |     | $                | 3,117,573 |   |     | $           | 7,175,500 |   |
| Statutory income tax rate                      |     |                  |        23 | % |     |             |        24 | % |
| Income tax expense at statutory rate           |     |                  |   717