Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 113

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 113
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 may be subject to PRC
tax at a rate of 10%. In such event, Antelope Enterprises may be required to withhold a 10% PRC tax on any dividends paid to such non-resident
investors. In addition, such non-resident investors in Antelope Enterprises’ securities may be responsible for paying PRC tax at
a rate of 10% on any gain realized from the sale or transfer of Antelope Enterprises’ securities if such non-resident investors
and the gain satisfy the requirements under the PRC tax laws. However, under the PRC tax laws, Antelope Enterprises would not have an
obligation to withhold PRC income tax in respect of the gains that such non-resident investors (including U.S. enterprise investors) may
realize from the sale or transfer of Antelope Enterprises’ securities. Also, if Antelope Enterprises is determined to be a “resident
enterprise,” its non-resident investors who are individuals may also be subject to potential PRC individual income tax at a rate
of 20% with respect to dividends received from Antelope Enterprises and/or gains derived by them from the sale or transfer of Antelope
Enterprises’ securities.

If Antelope Enterprises were to
pay any dividends in the future, and if Antelope Enterprises (based on future clarifying guidance issued by the PRC), or the PRC tax authorities,
determine that Antelope Enterprises must withhold PRC tax on any dividends payable by Antelope Enterprises under the PRC tax laws, Antelope
Enterprises will make any necessary tax withholding on dividends payable to its non-resident investors. If non-resident investors as described
under the PRC tax laws (including U.S. investors) realize any gain from the sale or transfer of Antelope Enterprises’ securities
and if such gain were considered as PRC-sourced income, such non-resident investors would be responsible for paying the applicable PRC
income tax on the gain from the sale or transfer of Antelope Enterprises’ securities. As indicated above, under the PRC tax laws,
Antelope Enterprises would not have an obligation to withhold PRC income tax in respect of the gains that non-resident investors (including
U.S. investors) may realize from the sale or transfer of Antelope Enterprises’ securities.

On December 10, 2009, the SAT
released Circular Guoshuihan No. 698 (“Circular 698”) that reinforces the taxation of certain equity transfers by non-resident
investors through