Company: NIVFW
Filing Date: 2025-09-18
Form Type: F-1
Source: 0001213900-25-088927
Chunk: 128

Company: NewGenIvf Group Ltd
Filing Date: 2025-09-18
Form: F-1
Chunk 128
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consists primarily of partial waiver of promissory note

Interest expense

NewGenIvf’s interest
expense is incurred in relation to its interest-bearing convertible bonds.

Taxation

British Virgin Islands

NewGenIvf is incorporated
in the British Virgin Islands and is not subject to tax on income or capital gains under current British Virgin Islands law. In addition,
upon payment of dividends to shareholders, no British Virgin Islands withholding tax will be imposed.

Hong Kong

Under the two-tiered profits
tax rates regime, Hong Kong tax residents are subject to Hong Kong profits tax in respect of profits arising in or derived from
Hong Kong at 8.25% for the first HK$2 million of profits of the qualifying group entity, and profits above HK$2 million
will be taxed at 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be taxed
at a flat rate of 16.5%.

Accordingly, the Hong Kong
profits tax is calculated at 8.25% on the first HK$2 million of the estimated assessable profits and at 16.5% on the remaining estimated
assessable profits.

Thailand

The companies incorporated
in Thailand are taxed on worldwide income. A company incorporated outside of Thailand is taxed on its profits arising from or in consequence
of the business carried on in Thailand. The Thailand corporate income tax rate is 20%. A foreign company not carrying on business in Thailand
is subject to a final withholding tax on certain types of assessable income (e.g., interest, dividends, royalties, rentals, and service
fees) paid from or in Thailand. The rate of tax is generally 15%, except for dividends, which is 10%, while other rates may apply under
the provisions of a double tax treaty.

Cambodia

The standard rate of corporate
income tax for companies and permanent establishments in Cambodia who are classified as medium and large taxpayers is 20%. For companies
and permanent establishments who are classified as small taxpayers, the corporate income tax rates are progressive rates from 0% to 20%.
In view of the annual turnover of the company, which ranges from KHR1 billion to KHR6 billion for service and commercial sectors, the
company is considered a medium-sized company.

Kyrgyzstan

NewGenIvf is subject to a
corporate income tax on its aggregate annual income earned worldwide. Non-resident legal entities carrying out business activities through
a