Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 81

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 8
Chunk 81
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 Hong Kong 
     46 
     (78)
  
    China 
     (525,013) 
     (771,774)

    Income
    (loss) before income tax 
    $(585,330) 
    $(907,126)

Effective
and Statutory Rate Reconciliation

The
following table summarizes a reconciliation of the Company’s blended statutory income tax rate to the Company’s effective
tax rate as a percentage of income from continuing operations before taxes:

SCHEDULE
OF EFFECTIVE INCOME TAX RATE RECONCILIATION 

    For
    the year ended  December 31, 

    2024  
    2023 
  
    Statutory tax
    rate: 
     21.0% 
     21.0%
  
    Change
    in income tax valuation allowance 
     (21.5)% 
     (21.5)%

    Effective
    tax rate 
     (0.5)% 
     (0.5)%

The
effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad
range of income tax rates. the Company has subsidiaries that operate in various countries: United States, Seychelles, Hong Kong and China
that are subject to taxes in the jurisdictions in which they operate, as follows:

United
States of America

The
Company is registered in the State of Nevada and is subject to the tax laws of the United States of America and the tax rate is 21%.

The
Tax Cut and Jobs Act (TCJA) enacted in late 2017 added rules that require the US parent company to include in income certain low taxed
income. The company is subject to the these so called GILTI (Global Intangible Low-taxed Income) rules due to their presence in the China,
Hong Kong and the Seychelles. The GILTI tax has been properly reflected in their tax provision calculation for the year ended December
31, 2024.

    F-15

EZAGOO
LIMITED

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

Seychelles

Under
the current laws of the Seychelles, Ezagoo Holding Limited is registered as an international business