Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 155

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 155
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 earnings, for Companies Act purposes, the portion of such distributions in excess of the amount corresponding to a pro rata portion of return of capital as determined under Japanese tax laws would be deemed dividends for Japanese tax purposes, while the rest would be treated as return of capital for Japanese tax purposes. The deemed dividend portion, if any, would generally be subject to the same tax treatment as dividends as described above, and the return of capital portion would generally be treated as proceeds derived from the sale of shares of a Japanese corporation and subject to the same tax treatment as described below. Distributions made in consideration of repurchase by a Japanese corporation of its own shares or in connection with certain reorganization transactions will be treated substantially in the same manner. Japan has income tax treaties whereby the withholding tax rate (including the special reconstruction surtax) may be reduced, generally to 15%, for portfolio investors, with, among others, Canada, Denmark, Finland, Germany, Ireland, Italy, Luxembourg, New Zealand, Norway, and Singapore, while the income tax treaties with, among others, Australia, Belgium, France, Hong Kong, the Netherlands, Portugal, Sweden, Switzerland, the United Kingdom, and the United States generally reduce the withholding tax rate to 10% for portfolio investors and the income tax treaties with, among others, Spain, generally reduce the withholding tax rate to 5% for portfolio investors. In addition, under the income tax treaty between Japan and the United States, dividends paid to pension funds which are qualified U.S. residents eligible to enjoy treaty benefits are exempt from Japanese income taxation by way of withholding or otherwise unless the dividends are derived from the carrying on of a business, directly or indirectly, by the pension funds. Similar treatment is applicable to dividends paid to pension funds under the income tax treaties between Japan and, among others, Belgium, Denmark, Spain, the United Kingdom, the Netherlands, and Switzerland. Under Japanese tax law, any reduced maximum rate applicable under a tax treaty shall be available when such maximum rate is below 109 the rate otherwise applicable under the Japanese tax law referred to in the second preceding paragraph with respect to the dividends to be paid by us on our Class A Ordinary Shares. There is no such tax treaty between Japan and the BVI which reduce applicable withholding tax rate, and thus no such reduction will be available on the dividend which may be paid by our Operating Entity to us. Non -residentholders of a Japanese corporation who are entitled under an applicable tax treaty to a reduced rate of, or exemption from, Japanese withholding tax