Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 86

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 86
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4, over 99% of our revenue came from Taiwan. Changes in Taiwan, U.S. and foreign tax laws, as well as the application of such laws, could adversely impact our financial position and operating results.

We launched OwlPay in 2023, and as of September
30, 2024, over 99% of the revenue from payment services came from Taiwan. Similarly, our revenue from other non-payment services in overseas markets as of September 30, 2024 was less than 1%. We are subject to complex tax laws and regulations in
Taiwan, the United States, and various foreign jurisdictions. All of these jurisdictions have in the past and may in the future alter their corporate income tax rates and other income tax laws which could increase our future income tax provision.
Our tax liability determination is subject to review and audit by the applicable U.S. and foreign tax authorities, and could be challenged by such tax authorities. An adversely decided challenge could hurt our operating results and financial
condition.

Determining our worldwide tax provision and other tax liabilities requires significant judgment and, in the ordinary course of
business, there are many transactions and calculations where the ultimate tax determination is complex and uncertain. Moreover, as a multinational business, we have subsidiaries that engage in many intercompany transactions in various tax
jurisdictions, and each jurisdiction’s tax authority could interpret applicable tax laws in divergent and even conflicting ways. The tax authorities of the jurisdictions in which we operate may challenge our tax treatment of certain items or
the methodologies we use, which could impact our worldwide effective tax rate and harm our financial position and operating results.

We
also are subject to non-income taxes, such as payroll, sales, use, value-added, digital services, net worth, property, and goods and services taxes in the United States and various foreign jurisdictions.
Specifically, we may be subject to new allocations of tax as a result of increasing efforts by certain jurisdictions to tax activities that may not have been subject to tax under existing tax principles. Companies such as ours may be adversely
impacted by such taxes. Tax authorities may disagree with certain of our positions and impose additional tax liabilities that could have an adverse effect on our operating results and financial condition.

58

Because of the foregoing factors, the ultimate amount of tax obligations owed may differ
from the amounts recorded in our financial statements and any such difference may harm our operating results in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.

We and