Company: MASK
Filing Date: 2025-12-30
Form Type: F-1
Source: 0001185185-25-002198
Chunk: 166

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-30
Form: F-1
Chunk 166
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 certain exemptions. In addition, payments of dividends from our Hong Kong subsidiary to its shareholder(s) are not subject to any withholding tax in Hong Kong. See “ Dividend Policy” for further details on our dividend policy. No Hong Kong stamp duty is payable on the purchase and sale of the Class A Ordinary Shares. British Virgin Islands Taxation The disclosure relating to tax consequences under BVI law is the opinion of Harney Westwood & Riegels, our counsel as to BVI law. The government of the BVI does not, under existing legislation, impose any income, corporate or capital gains tax, estate duty, inheritance tax, gift tax or withholding tax upon the Company or its shareholders who are not tax resident in the BVI. The BVI currently levies no taxes on individuals or corporations based upon profits, income, gains or appreciation, and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to our Company levied by the government of the BVI save for certain stamp duties which may be applicable, from time to time, on certain instruments. No stamp duty is payable in the BVI on transfer of shares of BVI companies incorporated or registered under the BVI Act, except for those which hold interests in land in the BVI. There are no foreign exchange controls or foreign exchange regulations under the currently applicable laws of the BVI. British Virgin Islands Economic Substance Legislation The BVI enacted the Economic Substance (Companies and Limited Partnerships) Act, Revised Edition 2020 (the “ES Act”), which became effective on January 1, 2019, and the International Tax Authority’s (the “ITA”) Rules on Economic Substance in the Virgin Islands (the “ITA’s Rules”), containing rules and guidance relating to the interpretation of the ES Act and how the ITA will carry out its obligations. The ITA’s Rules were first issued on October 9, 2019, were further updated on February 10, 2020 and again updated on February 23, 2023. A BVI company that is considered a “legal entity” that is conducting one or more of the nine “relevant activities” is required to comply with the economic substance requirements in relation to that relevant activity. A BVI company is required to report to the ITA, via its registered agent, on an annual basis under the Beneficial Ownership Secure Search System Act, Revised Edition 2020 to enable the ITA to monitor compliance with the economic substance requirements (as