Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 39

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4A
Chunk 39
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 is
permitted. The Company is currently evaluating these new disclosure requirements and does not expect the adoption to have a material impact.
In January 2025, the FASB issued ASU 2025-01, which revises the effective date of ASU 2024-03 (on disclosures about disaggregation of
income statement expenses) “to clarify that all public business entities are required to adopt the guidance in annual reporting
periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027.”
Entities within the ASU’s scope are permitted to early adopt the ASU.

In March 2024, the FASB issued
ASU 2024-01, “ Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and similar Awards”. For
public business entities, the amendments in this Update are effective for annual periods beginning after December 15.2024, and interim
periods within those annual periods. For all other entities, the amendments are effective for annual periods beginning after December
15,2025, and interim periods within those annual periods. Early adoption is permitted for both interim and annual financial statements
that have not yet been issued or made available for issuance. If an entity adopts the amendments in an interim period, it should adopt
them as of the beginning of the annual period that includes that interim period.

In December 2023, the FASB issued ASU 2023-09, which is an update to
Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the
transparency of income tax disclosures by requiring (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit)
to be consistent with U. S. Securities and Exchange Commission (the “ SEC”) Regulation S-X 210.4-08(h), Rules of General Application
 - General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial
or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15,
2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025.
Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments
in this update should be applied on a