Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 298

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 298
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According to announcement of the Ministry of Finance and the State Taxation Administration [2022] No.13, which became effective on January 1, 2022 and to December 31, 2024, small, low profit enterprises with annual taxable income exceeding RMB million ($) but no more than RMB million ($) are subject to the preferential income tax rate of % (only % of such taxable income shall be subject to enterprises income tax at a tax rate of %).

According to announcement of the Ministry of Finance and the State Taxation Administration [2023] No.12, which became effective on August 2, 2023 to December 31, 2027, small, low profit enterprises are subject to the preferential income tax rate of % (only % of such taxable income shall be subject to enterprises income tax at a tax rate of %).

For the years ended September 30, 2024 and 2023, all PRC subsidiaries are small and micro-profit companies as defined, and thus are eligible for the above preferential tax rate for small and micro enterprises for the taxable profit less than RMB million 2024 and 2023.

The PRC tax authorities grant preferential tax treatment to High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of %, subject to a requirement that they re-apply for HNTE status every . Since NetClass China was approved as an HNTE beginning December 2019 and renewed in December 2022, NetClass China is entitled to a reduced income tax rate of % from 2019 to 2024. However, as the preferential tax rate for small and micro enterprises and the preferential tax rate for high-tech enterprises cannot be enjoyed simultaneously, NetClass China that meet both requirements chooses to enjoy the tax preferential treatment for small and micro enterprises for the years ended September 30, 2024 and 2023.

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| PRC                               | ​ | $    |       — | ​ | $    |