Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 93

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 93
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 of tax of a similar character to income tax (by whatever name called) levied under the law of the territory from which the inco...  
  (iii)      the Comptroller is satisfied that the tax exemption would be beneficial to the Singapore tax resident company.                                                                                        

The
corporate tax rate in Singapore is currently 17%. From YA 2020 onwards, three-quarters of a company’s first S$10,000 of its normal
chargeable income, and half of its next S$190,000 of normal chargeable income are exempt from corporate tax.

Newly
incorporated companies will also, subject to certain conditions and exceptions, be eligible for tax exemption on three-quarters of the
company’s first S$100,000 of normal chargeable income, and half of its next $100,000 of normal chargeable income, for each of the
company’s first three YAs falling in or after YA 2020.

Dividend
Distributions

Under
Singapore’s one-tier corporate tax system, dividends paid by a Singapore tax resident company are exempt from Singapore income
tax in the hands of its shareholders, regardless of whether the shareholder is a company or an individual and whether or not the shareholder
is a Singapore tax resident.

Gains
on Disposal of our Shares

Singapore
does not impose tax on capital gains. There are no specific laws or regulations which deal with the characterization of whether a gain
is income or capital in nature. Gains arising from the disposal of our Shares may be construed to be of an income nature and subject
to Singapore income tax, especially if they arise from activities which the IRAS regards as the carrying on of a trade or business in
Singapore.

Holders
of our Shares who apply, or who are required to apply, the Singapore Financial Reporting Standard (“ FRS”) 39, FRS 109 or
Singapore Financial Reporting Standard (International) 9 (“ SFRS(I) 9”) (as the case may be) may for the purposes of Singapore
income tax be required to recognize gains or losses (not being gains or losses in the nature of capital) in accordance with the provisions
of FRS 39, FRS 109 or SFRS(I) 9 (as modified by the applicable provisions of Singapore income tax law) even though no sale or disposal
of our Shares is made.

Holders
of our Shares should consult their accounting and tax advisers regarding the Singapore income tax consequences of their acquisition,