Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 706

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 1B
Chunk 706
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 as working capital, which is unsecured, interest-free with no
fixed payment term, for working capital purpose.

    F-14

EZAGOO
LIMITED

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023

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

10.
INCOME TAXES

For
the years ended December 31, 2024 and 2023, the local (United States) and foreign components of income (loss) before income taxes were
comprised of the following:

SCHEDULE
OF LOCAL AND FOREIGN COMPONENTS OF INCOME (LOSS) BEFORE INCOME TAXES 

    For
    the year ended December 31, 

    2024  
    2023 
  
    Tax jurisdictions
    from: 
    $   
    $  
  
    - Local 
     (60,363) 
     (135,274)
  
    - Foreign, representing 

    Seychelles 
     -  
     - 
  
    Hong Kong 
     46 
     (78)
  
    China 
     (525,013) 
     (771,774)

    Income
    (loss) before income tax 
    $(585,330) 
    $(907,126)

Effective
and Statutory Rate Reconciliation

The
following table summarizes a reconciliation of the Company’s blended statutory income tax rate to the Company’s effective
tax rate as a percentage of income from continuing operations before taxes:

SCHEDULE
OF EFFECTIVE INCOME TAX RATE RECONCILIATION 

    For
    the year ended  December 31, 

    2024  
    2023 
  
    Statutory tax
    rate: 
     21.0% 
     21.0%
  
    Change
    in income tax valuation allowance 
     (21.5)% 
     (21.5)%

    Effective
    tax rate 
     (0.5)% 
     (0.5)%

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 rates. the Company has subsidiaries that operate in various countries: United States, Seychelles, Hong Kong and China