Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 297

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 297
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 Islands

The Company is incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of the Cayman Islands. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

Singapore

Under Singapore tax laws, the corporate income tax rate varies from year to year. For the years ended September 30, 2024 and 2023, the corporate income tax rate was %. Platinum Singapore applied the tax rate of % for its provision for current income and deferred taxes. Net operating loss will be carried forward indefinitely under Singapore profits tax regulation.

Hong Kong

Under Hong Kong tax laws, with effect from April 1, 2018, a two-tiered profits tax rate regime applies. The profits tax rate for the first HKD million (approximately $) of corporate profits is %, while the standard profits tax rate of % remains for profits exceeding HKD million. For the year ended September 30, 2024 and 2023, NetClass HK applied the two-tier profits tax rate for its provision for current income and deferred taxes. Net operating loss will be carried forward indefinitely under Hong Kong profits tax regulation.

PRC

Under the Enterprise Income Tax (“EIT”) Law of PRC, domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified % enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on a case-by-case basis.

According to Caishui [2019] No.13, announcement of the Ministry of Finance and the State Taxation Administration [2021] No.12 and [2023] No.6, small and low-profit enterprises shall meet three conditions for enjoying preferential tax conditions, including (i) annual taxable income of no more than RMB million ($), (ii) no more than employees, and (iii) total assets of no more than RMB million ($). According to announcement of the State Taxation Administration [2021] No.8, which became effective on January 1, 2021 to December 31, 2022., small, low-profit enterprises whose annual taxable income is no more than RMB million ($) are subject to the preferential income tax rate % (only % of such taxable income shall be subject to enterprises income tax at a tax rate of %).

F-23

NOTE 8 — TAXES (Continued)

| (a) | Corporate Income Taxes (“CIT”) (Continued