Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 49

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 10
Chunk 49
---
 There are no other taxes likely to be material to us levied by the government
of the Cayman Islands except for stamp duties which may be applicable on instruments executed in, or, after execution, brought within
the jurisdiction of the Cayman Islands. No stamp duty is payable in the Cayman Islands on the issue of shares by, or any transfers of
shares of, Cayman Islands companies (except those which hold interests in land in the Cayman Islands). There are no exchange control
regulations or currency restrictions in the Cayman Islands.

Payments
of dividends and capital in respect of the Shares will not be subject to taxation in the Cayman Islands and no withholding will be required
on the payment of interest and principal or a dividend or capital to any holder of the Shares, as the case may be, nor will gains derived
from the disposal of the Shares be subject to Cayman Islands income or corporation tax.

We
have been incorporated under the laws of the Cayman Islands as an exempted company with limited liability and, as such, have received
an undertaking dated April 11, 2022 from the Financial Secretary of the Cayman Islands in the following form:

The
Tax Concessions Law

In
accordance with the Tax Concessions Law, the with the following undertaking is given to Xinxu Copper Industry Technology Limited:

  (a)      that                                                                                        

  (b)      in                                                                                         

  (i)      on                                                                               

  (ii)      by                                                                                                  

These
concessions shall be for a period of 20 years from the date of the undertaking.

People’s
Republic of China Taxation

Under
the EIT Law, an enterprise established outside the PRC with a “de facto management body” within the PRC is considered a PRC
resident enterprise for PRC enterprise income tax purposes and is generally subject to a uniform 25% enterprise income tax rate on its
worldwide income as well as tax reporting obligations. Under the Implementation Rules, a “de facto management body” is defined
as a body that has material and overall management and control over the manufacturing and business operations, personnel and human resources,
finances and properties of an enterprise.

In
addition, State Administration of Taxation (SAT) Circular 82 issued in April 2009 specifies that certain offshore-incorporated enterprises
controlled by PRC enterprises or PRC enterprise groups will be classified as PRC resident enterprises if all of the following conditions