Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 200

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 200
---
 of the following conditions
are met: (i) the primary location of senior management to carry out daily operations or perform their duties is in China; (ii) decisions
relating to the enterprise’s financial and human resource matters are made or are subject to approval by organizations or personnel
in China; (iii) the enterprise’s primary assets, accounting books and records, company seals, and board and shareholders’
meeting minutes, are located or maintained in China; and (iv) at least 50% of the voting board members or senior executives habitually
reside in China.

The SAT issued the Public
Notice Regarding Certain Enterprise Income Tax Matters on Indirect Transfer of Properties by Non-Resident Enterprises, or SAT Public
Notice 7, in February 2015. SAT Public Notice 7 extends its tax jurisdiction to not only indirect transfers but also transactions
involving transfer of other taxable assets, through the offshore transfer of a foreign intermediate holding company.

The SAT also issued the
Public Notice on Issues Relating to Withholding at Source of Income Tax of Non-resident Enterprises, or the SAT Public Notice 37, in
October 2017, which came into effect on December 1, 2017. According to SAT Public Notice 37, where the non-resident enterprise
fails to declare its tax payable pursuant to Article 39 of the EIT Law, the tax authority may order it to pay its tax due within
required time limits, and the non-resident enterprise shall declare and pay its tax payable within such time limits specified by the
tax authority.

According to the Arrangement
Between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and Prevention of
Fiscal Evasion with Respect to Taxes on Income, or the Double Tax Avoidance Arrangement, which was promulgated and came into effect in
August 2006, and other applicable PRC laws, if a Hong Kong resident enterprise is determined by the competent PRC tax authority
to have satisfied the relevant conditions and requirements under such Double Tax Avoidance Arrangement and other applicable laws, the
10% withholding tax on the dividends the Hong Kong resident enterprise receives from a PRC resident enterprise may be reduced to 5%.
However, based on the Circular on Certain Issues with Respect to the Enforcement of Dividend Provisions in Tax Treaties, which was promulgated
by the SAT in February 2009, if the relevant PRC tax authorities determine,