Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 115

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 115
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. We believe we are compliant with this law in all material aspects as of the date of this prospectus. 86 Taxation Regulations The taxes levied in Japan on income generated by the activities of a corporation include corporate tax (national tax), local corporate tax (national tax), corporate inhabitant tax (local tax), enterprise tax (local tax), and special local corporate tax (a national tax). According to tax -relatedlaws and regulations, including the Corporation Tax Act (Act No. 34 of March 31, 1965, as amended) and the Local Corporation Tax Act (Act No.11 of March 31, 2014, as amended), the scope of income subject to the taxes is determined and the taxable income is calculated. Corporate inhabitant taxes are levied on income and a per capita basis using the corporation’s capital and the number of its employees as the tax base. Business transaction is levied consumption tax which is a type of value -addedtax. Foreign Exchange Regulations The Foreign Exchange and Foreign Trade Act of Japan (Gaikoku Kawase oyobi Gaikoku Boueki Hou) (the “FEFTA”) and related cabinet orders and ministerial ordinances, which we refer to collectively as the Foreign Exchange Regulations, govern certain aspects relating to the acquisition and holding of shares by “exchange non -residents” and by “foreign investors” (as these terms are defined below). Exchange residents are defined in the Foreign Exchange Regulations as: (i)individuals who reside within Japan; or (ii)corporations whose principal offices are located within Japan. Exchange non -residentsare defined in the Foreign Exchange Regulations as: (i)individuals who do not reside in Japan; or (ii)corporations whose principal offices are located outside Japan. Generally, branches and other offices of non -residentcorporations located within Japan are regarded as exchange residents. Conversely, branches and other offices of Japanese corporations located outside Japan are regarded as exchange non -residents. Foreign investors are defined in the Foreign Exchange Regulations as: (i)individuals who are exchange non -residents; (ii)corporations or other entities organized under the laws of foreign countries or whose principal offices are located outside Japan; (iii)corporations of which 50% or more of the total voting rights are held, directly or indirectly, by individuals and/or corporations falling within (i) and/or (ii) above; (iv)investment partnerships and limited liability partnerships for investment, etc. (including