Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 37

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 37
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 we establish PRC-based subsidiaries, expand our operations
to the PRC, or become otherwise subject to PRC regulations due to China’s future regulatory developments, we may become subject
to various laws and regulations that generally apply to our PRC businesses.

PRC Tax Regulations

Enterprise Income Tax

The EIT Law was promulgated
by the Standing Committee of the National People’s Congress on March 16, 2007 and became effective on January 1, 2008,
and was later amended on February 24, 2017. The Implementation Rules of the EIT Law (the “Implementation Rules”) were
promulgated by the State Council on December 6, 2007 and became effective on January 1, 2008. According to the EIT Law and the
Implementation Rules, enterprises are divided into resident enterprises and non-resident enterprises. Resident enterprises shall pay enterprise
income tax on their incomes obtained in and outside the PRC at the rate of 25%. Non-resident enterprises setting up institutions in the
PRC shall pay enterprise income tax on the incomes obtained by such institutions in and outside the PRC at the rate of 25%. Non-resident
enterprises with no institutions in the PRC, and non-resident enterprises whose incomes having no substantial connection with their institutions
in the PRC, shall pay enterprise income tax on their incomes obtained in the PRC at a reduced rate of 10%.

The Arrangement between the
PRC and Hong Kong Special Administrative Region for the Avoidance of Double Taxation the Prevention of Fiscal Evasion with respect to
Taxes on Income (the “Arrangement”) was promulgated by the State Administration of Taxation (“SAT”) on August 21,
2006 and came into effect on December 8, 2006. According to the Arrangement, a company incorporated in Hong Kong will be subject
to withholding tax at the lower rate of 5% on dividends it receives from a company incorporated in the PRC if it holds a 25% interest
or more in the PRC company. The Notice on the Understanding and Identification of the Beneficial Owners in the Tax Treaty (the “Notice”)
was promulgated by SAT and became effective on October 27, 2009. According to the Notice, a beneficial ownership analysis will be
used based on a substance-over-form principle to determine whether or not to grant tax treaty benefits.

In April 2009, the Ministry
of Finance, or