Company: YDDL
Filing Date: 2025-08-22
Form Type: F-1/A
Source: 0001213900-25-079833
Chunk: 170

Company: One & one Green Technologies. INC
Filing Date: 2025-08-22
Form: F-1/A
Chunk 170
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 under the Inland Revenue (Amendment) (No. 3) Ordinance 2018 (the “Ordinance”) of Hong Kong, and applies for a year of assessment commencing on or after April 1, 2018. Under the two -tierprofit tax rates regime, the profits tax rate for the first HKD 2 million of assessable profits of a corporation will be subject to the lowered tax rate of 8.25% while the remaining assessable profits will be subject to the tax rate of 16.5%. In respect of dividends paid to One and one International HK Limited, under Hong Kong’s Foreign -sourcedIncome Exemption regime effective from January 1, 2023, income arising in or derived from a territory outside Hong Kong (such as dividends from the VIEs in the Philippines) received by a Hong Kong entity which is a multinational enterprise entity (“MNE entity”) carrying on business in Hong Kong may be regarded as specified foreign -sourcedincome which will be deemed to be sourced from Hong Kong and chargeable to profits tax, subject to certain exemptions. Prior to January 1, 2023, Hong Kong operated under a territorial source principle of taxation, where only income arising in or derived from Hong Kong was subject to profits tax. Under this regime, foreign -sourcedincome, such as dividends received from a non -HongKong source (from the VIEs in the Philippines), was generally not subject to Hong Kong profits tax. In addition, payments of dividends from One and one HK to its shareholder(s) are not subject to any Hong Kong withholding tax which remains unchanged both before and after January 1, 2023. Republic of Philippines The VIEs in the Philippines are governed by the income tax law of the Philippines and are subject to the Philippine income tax (“PIT”). According to the CREATE Law (RA 11534) in the Philippines, the corporate income tax (“CIT”) rate for domestic corporations and resident foreign corporations has been reduced from 30% to 25%, effective from July 1, 2020 to December 31, 2022; with the exception for corporations having net taxable revenue of less than PHP 5 million and total assets of less than PHP 100 million, which is taxed at a rate of 20%. The rule further stipulates a gradual reduction in the CIT rate by 1% per year from 2023 to 2027, reaching 20% by 2027. Specifically,