Company: KNRX
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001493152-25-012564
Chunk: 85

Company: KNOREX LTD.
Filing Date: 2025-09-02
Form: F-1/A
Chunk 85
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 sourced income received or deemed received in Singapore, unless otherwise exempted. |

Foreign income in the form of branch profits, dividends, and service fee income, or specified foreign income, received or deemed received in Singapore by a Singapore tax resident corporate taxpayer on or after June 1, 2003, are exempted from Singapore tax subject to meeting the qualifying conditions.

A non-Singapore tax resident corporate taxpayer, subject to certain exceptions, is subject to Singapore income tax on income accrued in or derived from Singapore, and on foreign income received or deemed received in Singapore.

A company is regarded as a tax resident in Singapore if the control and management of the company’s business is exercised in Singapore. Control and management are defined as the making of decisions on strategic matters, such as those concerning the company’s policy and strategy. In general, control and management of the company is vested in its board of directors and therefore if the board of directors meets and conducts the company’s business in Singapore, the company will be regarded as a tax resident in Singapore.

The corporate tax rate in Singapore is 17.0% with effect from the year of assessment 2010, after allowing partial tax exemption on the first S$300,000 of a company’s chargeable income as follows:

| ● | 75.0%                                                                                                     
 of up to the first S$10,000 of a company’s chargeable income (excluding Singapore franked dividends); and |

| ● | 50.0%                                                                                                 
 of up to the next S$290,000 of a company’s chargeable income (excluding Singapore franked dividends). |

It was announced in the 2018 Budget that with effect from the year of assessment 2020, the partial tax exemption scheme will be limited to the first S$200,000 (instead of S$300,000) of the normal chargeable income –75.0% of the first S$10,000 and 50.0% of the next S$190,000.

Goods and services tax

The Goods and Services Tax, or GST, in Singapore is a consumption tax that is levied on the import of goods into Singapore, as well as nearly all supplies of goods and services in Singapore at a prevailing rate of 9.0%. This rate was raised from 8.0% to 9.0% with effect from January 1, 2024.

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