Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 141

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 141
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 the higher of the consideration for or the value of the ordinary shares, will be payable by
the purchaser on every purchase and by the seller on every sale of ordinary shares (i. e., a total of HK$2.6 per HK$1,000 or part thereof
is currently payable on a typical sale and purchase transaction involving ordinary shares). In addition, a fixed duty of HK$5 is currently
payable on any instrument of transfer of ordinary shares. If one of the parties to the sale is a non-Hong Kong resident and does not pay
the required stamp duty, the duty not paid will be assessed on the instrument of transfer (if any) and the transferee will be liable for
payment of such duty. No Hong Kong stamp duty is payable upon the transfer of ordinary shares outside Hong Kong.

  85  

Estate Duty

The Revenue (Abolition of Estate Duty) Ordinance 2005
came into effect on February 11, 2006 in Hong Kong. No Hong Kong estate duty is payable and no estate duty clearance papers are needed
for an application for a grant of representation in respect of holders of ordinary shares whose death occurs on or after February 11,
2006.

United States Federal Income Tax Considerations

The following is a discussion of United States federal
income tax considerations relating to the acquisition, ownership, and disposition of our ordinary shares by a U. S. Holder, as defined
below, that acquires our ordinary shares and holds our ordinary shares as “capital assets” (generally, property held for investment)
under the United States Internal Revenue Code of 1986, as amended (the “ Code”). This discussion is based upon existing United
States federal income tax law, which is subject to differing interpretations or change, possibly with retroactive effect. No ruling has
been sought from the Internal Revenue Service (the “ IRS”) with respect to any United States federal income tax consequences
described below, and there can be no assurance that the IRS or a court will not take a contrary position. This discussion does not address
all aspects of United States federal income taxation that may be important to particular investors in light of their individual circumstances,
including investors subject to special tax rules (such as, for example, certain financial institutions, insurance companies, regulated
investment companies, real estate investment trusts, broker-dealers, traders in securities that elect mark-to-market treatment, partnerships
and their partners, tax-exempt organizations (including private foundations)), investors who are not