Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 144

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 10
Chunk 144
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 be made on a retrospective basis.
These laws and guidelines are also subject to various interpretations and the relevant tax authorities or the courts could later disagree
with the explanations or conclusions set out below. The statements below are not to be regarded as advice on the tax position of any holder
of our ordinary shares or of any person acquiring, selling or otherwise dealing with our ordinary shares or on any tax implications arising
from the acquisition, sale or other dealings in respect of our ordinary shares. The statements made herein do not purport to be a comprehensive
or exhaustive description of all of the tax considerations that may be relevant to a decision to purchase, own or dispose of our ordinary
shares and do not purport to deal with the tax consequences applicable to all categories of investors, some of which (such as dealers
in securities) may be subject to special rules. Holders of our ordinary shares are advised to consult their own tax advisers as to the
Singapore or other tax consequences of the acquisition, ownership of or disposal of our ordinary shares. The statements below regarding
the Singapore tax treatment of dividends received in respect of our ordinary shares are based on the assumption that the Company is tax
resident in Singapore for Singapore income tax purposes. It is emphasized that neither the Company nor any other persons involved in this
annual report accepts responsibility for any tax effects or liabilities resulting from the subscription for, purchase, holding or disposal
of our ordinary shares.

Individual Income Tax

An individual is a tax resident
in Singapore in a year of assessment if, in the preceding year, he was physically present in Singapore or exercised an employment in Singapore
(other than as a director of a company) for 183 days or more, or if he resides in Singapore.

Individual taxpayers who are Singapore
tax residents are subject to Singapore income tax on income accruing in or derived from Singapore. All foreign-sourced income received
in Singapore on or after January 01, 2004 by a Singapore tax resident individual (except for income received through a partnership in
Singapore) is exempt from Singapore income tax if the Comptroller of Income Tax in Singapore (“ Comptroller”) is satisfied
that the tax exemption would be beneficial to the individual. A Singapore tax resident individual is taxed at progressive rates ranging
from 0% to 22% up to YA2023. With effect from YA2024, the maximum tax rate for tax resident is 24%.

Non-resident individuals, subject
to certain exceptions and conditions, are subject to Singapore income tax on income accruing