Company: MKDWW
Filing Date: 2025-04-15
Form Type: 424B3
Source: 0001641172-25-004780
Chunk: 123

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-15
Form: 424B3
Chunk 123
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 expenses for bank borrowings and financing leases, and interest income earned on cash deposits in banks.

Our interest expenses, net increased by US$0.16 million, or 62.8% from US$0.24 million for the year ended December 31, 2023 to US$0.40 million for the year ended December 31, 2024, which was primarily attributable to the increase of US$0.23 million in interest expense due to the newly borrowed loans from related parties, and offset by the increase of US$0.07 in interest income due to the newly lent loans to Cetus Sponsor LLC.

Other income, net

Other income, net consists of government subsidies, building repair income, foreign currency exchange gain or loss, and others.

Other income, net increased by US$0.05 million, or 301.5% from US$0.02 million for the year ended December 31, 2023 to US$0.07 million for the year ended December 31, 2024, which was primarily attributable to an increase of US$0.06 in government subsidies.

Taxation

British Virgin Islands (“BVI”)

The Company is incorporated in the BVI. Under the current laws of the BVI, the Company is not subject to income or capital gains taxes.

A holder of shares in a BVI company who is not a resident of the BVI is not required to pay tax in the BVI on (i) dividends paid with respect to the shares, or (ii) any gains realized during that year on sale or disposal of such shares, provided the BVI company does not have a direct or indirect interest in any land in the BVI. The laws of the BVI does not impose a withholding tax on dividends paid by a company incorporated or re-registered under the BVI Companies Act.

There are no capital gains, gift or inheritance taxes levied by the BVI government on companies incorporated or re-registered under the BVI Companies Act. In addition, shares of companies incorporated or re-registered under the BVI Companies Act are not subject to transfer taxes, stamp duties or similar charges, provided the company does not have a direct or indirect interest in any land in the BVI.

Taiwan

We are subject to a tax rate of 20% for entities under R.O.C. Income Tax Law.

Samoa

One of our subsidiaries was incorporated in Samoa and, under the current laws of Samoa, is not subject to tax on its