Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 119

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 119
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 consequence
of the business carried on in Thailand. The Thailand corporate income tax rate is 20%. A foreign company not carrying on business in Thailand
is subject to a final withholding tax on certain types of assessable income (e.g., interest, dividends, royalties, rentals, and service
fees) paid from or in Thailand. The rate of tax is generally 15%, except for dividends, which is 10%, while other rates may apply under
the provisions of a double tax treaty.

Cambodia

The standard rate of corporate
income tax for companies and permanent establishments in Cambodia who are classified as medium and large taxpayers is 20%. For companies
and permanent establishments who are classified as small taxpayers, the corporate income tax rates are progressive rates from 0% to 20%.
In view of the annual turnover of the company, which ranges from KHR1 billion to KHR6 billion for service and commercial sectors, the
company is considered a medium-sized company.

Kyrgyzstan

NewGenIvf is subject to a
corporate income tax on its aggregate annual income earned worldwide. Non-resident legal entities carrying out business activities through
a permanent establishment in Kyrgyzstan are subject to profit tax on the income attributed to the activities of that permanent establishments.
Profit tax is calculated at a rate of 10% of aggregate annual income less allowed deductions.

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Results of Operations

|                                                                                   |     | For the Year ended 
 December 31,       |       2024 |   |     |     |       2023 |   |
|:----------------------------------------------------------------------------------|:----|:-------------------|-----------:|:--|:----|:----|-----------:|:--|
|                                                                                   |     | US$                |            |   |     |     |            |   |
| Revenues                                                                          |     |                    |  5,433,375 |   |     |     |  5,136,153 |   |
| Cost of revenues                                                                  |     |                    | (3,606,481 | ) |     |     | (3,454,368 | ) |
| Gross profit                                                                      |     |                    |  1,826,894 |   |     |     |  1,681,785 |   |
| Operating expenses                                                                |     |                    |            |   |     |     |            |   |
| Selling and marketing expenses                                                    |     |                    |   (206,