Company: CHOW
Filing Date: 2025-04-01
Form Type: F-1
Source: 0001641172-25-001938
Chunk: 223

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-04-01
Form: F-1
Chunk 223
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ES

Cayman Islands

The Company is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands.

| F-35 |

British Virgin Islands

Vigorous is incorporated in British Virgin Islands and conducts its primary business operations through the subsidiary in Hong Kong. Under the current laws of British Virgin Islands, British Virgin Islands levies no taxes on individuals or corporations based upon profits, income, gains or appreciation and the Company is therefore not subject to tax on income or capital gains arising in British Virgin Islands. Additionally, upon payments of dividends by the Company to its shareholders, no British Virgin Islands withholding tax will be imposed.

Hong Kong

Sereno is subject to a two-tiered income tax rate in Hong Kong. The first HK$2,000,000 of profits are taxed at a rate of 8.25%, while any remaining profits are taxed at the standard rate of 16.5%.

The following table summarizes the composition of income tax expense for the years ended December 31, 2022, and 2023:

|                            |     | For the years ended December 31, |         |     |      |           |     |           |         |
|                            |     |                             2022 |         |     | 2023 |           |     |           |         |
|                            |     |                              HK$ |         |     |  HK$ |           |     | US$ (Note 
 2(e))     |         |
| Current income tax expense |     |                                  | 595,784 |     |      | 2,010,472 |     |           | 257,753 |
| Deferred tax expenses      |     |                                  | 112,813 |     |      |   151,343 |     |           |  19,403 |
|                            |     |                                  | 708,597 |     |      | 2,161,815 |     |           | 277,156 |

Tax Rate Reconciliation

The reconciliation between the Hong Kong statutory income tax rate applicable to the Company’s profits and the income tax expense is presented below:

|                                                                      |     | For the years ended December 31, |           |   |     |      |            |   |     |                 |           |   |
|                                                                      |     |                             2022 |           |   |