Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 814

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 3
Chunk 814
---
LIMITED

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

Seychelles

Under
the current laws of the Seychelles, Ezagoo Holding Limited is registered as an international business company which governs by the International
Business Companies Act of Seychelles and there is no income tax charged in Seychelles.

HongKong

From
the year of assessment of 2018/19 onwards, Hong Kong profit tax rate are 8.25% on assessable profits up to HK$2,000,000 (approximately
$255,428), and 16.5% on any part of assessable profits over HK$2,000,000. For the years ended December 31, 2024 and 2023, the Company
did not have any assessable profits arising in or derived from Hong Kong, therefore no provision for Hong Kong profits tax was made in
the year.

People’s
Republic of China

Changsha
Ezagoo Technology Limited, Beijing Ezagoo Zhicheng Internet Technology Limited and its Changsha Branch company are operating in the People’s
Republic of China (“PRC”) subject to the Corporate Income Tax governed by the Income Tax Law of the People’s Republic
of China with a unified statutory income tax rate of 25%. For the years ended December 31, 2024 and 2023, the Company did not have any
assessable profits arising in or derived from PRC, therefore no provision for PRC income tax was made in the year.

 SCHEDULE
OF DEFERRED TAX ASSETS

    As
    of December 31, 

    2024  
    2023 
  
    Deferred tax assets: 
    $   
    $  
  
    Net operating loss carryforwards 

    – United States of America 
     25,690  
     41,421 
  
    – Hong Kong 
     2,137 
     4,282
  
    –
    The PRC 
     1,167,843  
     1,036,117 
  
    Deferred
    tax assets: Net operating loss carryforwards 
     1,195,670  
     1,073,256