Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 163

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 10
Chunk 163
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 ten percent (10%) on any gain realized from the sale or transfer of our common shares in certain circumstances. We
would not, however, have an obligation to withhold PRC tax with respect to such gain.

Moreover, the State Administration
of Taxation issued the Notice on Strengthening the Administration of Enterprise Income Tax on Share Transfer Income of Non-Resident
Enterprises No. 698(“ Circular 698”) on December 10, 2009, which reinforces taxation on transfer of non-listed shares
by non-resident enterprises through overseas holding vehicles. Circular 698 applies retroactively and was deemed to be effective as of
January 2008. Pursuant to Circular 698, where (i) a foreign investor who indirectly holds equity interest in a PRC resident enterprise
through an offshore holding company indirectly transfers equity interests in a PRC resident enterprise by selling the shares of the offshore
holding company, and (ii) the offshore holding company is located in a jurisdiction where the effective tax rate is lower than twelve
and a half percent (12.5%) or where the offshore income of its residents is not taxable, the foreign investor is required to provide the
tax authority in charge of that PRC resident enterprise with certain relevant information within thirty (30) days of the transfer. The
tax authorities in charge will evaluate the offshore transaction for tax purposes. In the event that the tax authorities determine that
such transfer is abusing forms of business organization and there is no reasonable commercial purpose other than avoidance of PRC enterprise
income tax, the tax authorities will have the power to conduct a substance-over-form re-assessment of the nature of the equity transfer.
A reasonable commercial purpose may be established when the overall offshore structure is set up to comply with the requirements of supervising
authorities of international capital markets. If the State Administration of Taxation’s challenge of a transfer is successful, they
will deny the existence of the offshore holding company that is used for tax planning purposes. Since Circular 698 has a brief history,
there is uncertainty as to its application.

F. Dividends and Paying Agents

The Company has no plan to
declare or pay any dividends on Ordinary Shares in the foreseeable future. The Company currently intends to retain any earnings for future
operations and expansion.

For the years of 2024 and 2023, the Company purchased
insurance policies, to three shareholders, which was classified as dividends to the shareholders. For more details regarding this transaction,
please see Note 11