Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 92

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 92
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 as advice on the tax position of any
holder of our Shares or of any person acquiring, selling or otherwise dealing with our Shares or on any tax implications arising from
the acquisition, sale or other dealings in respect of our Shares. The statements made herein do not purport to be a comprehensive or
exhaustive description of all of the tax considerations that may be relevant to a decision to purchase, own or dispose of our Shares
and do not purport to deal with the tax consequences applicable to all categories of investors, some of which (such as dealers in securities)
may be subject to special rules. Prospective holders of our Shares are advised to consult their own tax advisers as to the Singapore
or other tax consequences of the acquisition, ownership of or disposal of our Shares. The statements below regarding the Singapore tax
treatment of dividends received in respect of our Shares are based on the assumption that the Company is tax resident in Singapore for
Singapore income tax purposes. It is emphasized that neither the Company nor any other persons involved in this Report accepts responsibility
for any tax consequences or liabilities resulting from the subscription for, purchase, holding or disposal of our Shares.

  76  

  Table of Contents  

Corporate
Income Tax

A
company established outside Singapore but whose governing body, being the board of directors, usually exercises de facto control and
management of its business in Singapore could be considered tax residents in Singapore. However, such control and management of the business
should not be deemed to be in Singapore if physical board meetings are conducted outside of Singapore. Where board resolutions are passed
in the form of written consent signed by the directors each acting in their own jurisdictions it is possible that the place of de facto
control and management will be considered to be where the majority of the board are located when they sign such consent.

A
Singapore tax resident company is subject to Singapore income tax on income accruing in or derived from Singapore and on foreign-sourced
income received or deemed to be received in Singapore, unless certain exemptions apply.

Foreign-sourced
income in the form of dividends, branch profits and service income received or deemed to be received in Singapore by a Singapore tax
resident company is exempt from Singapore income tax if the following conditions are met:

  (i)        such income is subject to tax of a similar character to income tax (by whatever name called) under the law of the territory from which such income is received;                                       
  (ii)       at the time the income is received in Singapore, the highest rate