Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 361

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 361
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 integrating logistics and payment information. The Company charges a processing fee based on the number of items delivered to end consumers and recognizes revenue on a gross basis. Before the goods are delivered, the Company recognizes the consideration received as a contract liability.

| 3. | Electronic invoicing system |

The Company provides an electronic invoicing system, assisting merchants in generating invoices and uploading them to the government platform. The Company charges an annual system fee and recognizes revenue over the contract period using the straight-line method. Before the Company provides the services to the merchant, it shall recognize the consideration received as a contract liability.

| (j) | Employee Benefits |

| 1. | Short-term employee benefits |

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided.

| 2. | Defined contribution plans |

Obligations for contributions to defined contribution pension plans are recognized as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. F-91

PayNow Inc. Notes to the Financial Statements (Continued)

| (k) | Income Taxes |

Income tax expense comprises current and deferred taxes. It is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. 1. Current tax Current taxes comprise the expected tax payable or receivable on the taxable income or losses for the year and any adjustments to tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted tax rate at the reporting date. 2. Deferred tax Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the financial statements and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the income of the period that includes the enactment date. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves.

| (l) | Operating Segments |

An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, including