Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 107

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 107
---
 stockholders, other than stockholders ordinarily
resident in the Republic of the Marshall Islands, if any. We believe that we should not be subject to tax under the laws of various countries,
other than the United States, in which our subsidiaries’ vessels conduct activities or in which our subsidiaries’ customers
are located. However, our belief is based on our understanding of the tax laws of those countries, and our tax position is subject to
review and possible challenge by taxing authorities and to possible changes in law or interpretation. We cannot determine in advance the
extent to which certain jurisdictions may require us to pay corporate income tax or to make payments in lieu of such tax. In addition,
payments due to us from our subsidiaries’ customers may be subject to tax claims. In computing our tax obligation in these jurisdictions,
we may be required to take various tax accounting and reporting positions on matters that are not entirely free from doubt and for which
we have not received rulings from the governing authorities. We cannot assure you that upon review of these positions the applicable authorities
will agree with our positions. A successful challenge by a tax authority could result in additional tax imposed on us or our subsidiaries,
further reducing the cash available for distribution. In addition, changes in our operations or ownership could result in additional tax
being imposed on us or our subsidiaries in jurisdictions in which operations are conducted.

Enterprise Income Tax Law

According to the Enterprise Income Tax Law of
the PRC, which was promulgated by the SCNPC and last amended on December 29, 2018, and the Implementation Rules to the Enterprise Income
Tax Law of the PRC, which were promulgated by the State Council and last amended on April 23, 2019, enterprises are classified as either
resident enterprises or non-resident enterprises. The income tax rate for resident enterprises, including both domestic-invested and foreign-invested
enterprises, shall typically be 25%. Non-resident enterprises which have not established agencies or offices in China, or which have established
agencies or offices in China but whose income has no association with such agencies or offices shall pay enterprise income tax on its
income deriving from inside China at the reduced rate of 10%.

According to the Circular of Printing the Administrative
Measures for Recognition of High-Tech Enterprises amended by the Ministry of Science and Technology, Ministry of Finance and State Taxation
Administration on January 29, 2016 and came into effect since January 1, 2016, upon the accreditation of