Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 105

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 10
Chunk 105
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 not persons resident in the BVI based upon profits, income, gains
or appreciation and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material
to us levied by the government of the BVI except for stamp duties which may be applicable on instruments executed in, or brought within
the jurisdiction of the British Virgin Islands. The BVI is not party to any double tax treaties that are applicable to any payments made
to or by our company. There are no exchange control regulations or currency restrictions in the BVI.

Hong
Kong Profits Taxation

Our
subsidiaries incorporated in Hong Kong were subject to 16.5% Hong Kong profits tax on their taxable income assessable profits generated
from operations arising in or derived from Hong Kong for the year of assessment of 2019/2020 and 2018/2019. As from year of assessment
of 2019/2020 onwards, Hong Kong profits tax rates are 8.25% on assessable profits up to HK$2,000,000, and 16.5% on any part of assessable
profits over HK$2,000,000. Under Hong Kong tax laws, our Hong Kong subsidiaries are exempted from Hong Kong income profits tax on its
foreign- derived income profits. In addition, payments of dividends from our Hong Kong subsidiary to us are not subject to any withholding
tax in Hong Kong.

F.
Dividends and paying agents.

Not
applicable.

G.
Statement by experts.

Not
applicable.

  68  

H.
Documents on display.

We
are subject to the periodic reporting and other informational requirements of the Exchange Act. Under the Exchange Act, we are required
to file reports and other information with the SEC. Specifically, we are required to file annually a Form 20-F no later than four months
after the close of each fiscal year and submit other information under cover of Form 6-K. Annual Reports and other information we file
with the SEC may be inspected at the public reference facilities maintained by the SEC at Room 1024, 100 F. Street, N. E., Washington,
D. C. 20549, and copies of all or any part thereof may be obtained from such offices upon payment of the prescribed fees. You may call
the SEC at 1-800-SEC-0330 for further information on the operation of the public reference rooms and you can request copies