Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 188

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 188
---
 1994 and were subsequently
amended from time to time. The Detailed Rules for the Implementation of the PRC Provisional Regulations on Value-Added Tax (2011 Revision)
was promulgated by the MOF on December 25, 1993 and subsequently amended December 15, 2008 and October 28, 2011. On November 19,
2017, the State Council promulgated the Decisions on Abolishing the PRC Provisional Regulations on Business Tax and Amending the PRC Provisional
Regulations on Value-Added Tax. Pursuant to these regulations, rules and decisions, all enterprises and individuals engaged in sale of
goods, provision of processing, repair, and replacement services, sales of services, intangible assets, real property, and the importation
of goods within the PRC territory are VAT taxpayers. On March 21, 2019, the MOF, the SAT, and the General Administration of Customs
jointly issued the Announcement on Relevant Policies on Deepen the Reform of Value-Added Tax. Sales revenue represents the invoiced value
of goods, net of VAT. The VAT is based on gross sales price, starting from April 1, 2019, the VAT rate was lowered to 13%.

On December 25, 2024, the “Value-Added Tax Law of the People’s
Republic of China” was promulgated by the State Council and will come into effect on January 1, 2026. According to this law, entities
and individuals (including individual businesses) that sell goods, services, intangible assets, or immovable property within the territory
of the People’s Republic of China, or import goods, are VAT taxpayers and shall pay value-added tax in accordance with regulations. Unless
otherwise stipulated, the tax rate for taxpayers selling goods, providing processing, repair and replacement services, leasing tangible
movable property, or importing goods is 13%.

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Regulations Related to the British Virgin Islands

Regulations related to the BVI Data Protection
Act, 2021

The Data Protection Act, 2021 (the “BVI DPA”)
came into force in the BVI on 9 July 2021. The BVI DPA establishes a framework of rights and duties designed to safeguard individuals’
personal data, balanced against the need of public authorities, businesses and organizations to collect and use personal data for lawful
purposes