Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 82

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 82
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. Technology and development costs are expensed as incurred, except to the extent that such costs are associated with software development that qualifies for capitalization in accordance with ASC 350-40, Internal-Use Software (“ASC 350-40”), which requires the capitalization of certain costs incurred only during the application development stage. The Company evaluates periodically research and development costs that may be eligible for capitalization.

General and administrative expenses.General and administrative expenses consist primarily of personnel costs of salaries and other compensation-related expenses for executive management, finance, accounting, human resources, legal, compliance, and other administrative functions as well as professional services costs and other facility related costs.

Taxation

Cayman Islands

We are incorporated in
the Cayman Islands. The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains, or
appreciation, and there is no taxation in inheritance tax or estate duty. There are no other taxes likely to be material to us levied
by the government of the Cayman Islands except for stamp duties, which may be applicable on instruments executed in, or brought within
the jurisdiction of, the Cayman Islands. In addition, the Cayman Islands does not impose withholding tax on dividend payments.

United States

Our operating subsidiary
in the U.S., Knorex Inc., which was incorporated in the State of Delaware and holds its operation in the state of California, is subject
to federal income tax rate of 21% and California income tax rate of 8.84%.

Singapore

Knorex SG was incorporated
in Singapore and is subject to Singapore income tax on the taxable income as reported in its statutory financial statements adjusted
in accordance with relevant Singapore tax laws.

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Corporate income tax

A Singapore tax resident corporate taxpayer is subject to Singapore income tax on:

| ● | income                                                                              
 accrued in or derived from Singapore; and                                           |
| ● | foreign                                                                             
 sourced income received or deemed received in Singapore, unless otherwise exempted. |

Foreign income in the form of branch profits, dividends, and service fee income, or specified foreign income, received or deemed received in Singapore by a Singapore tax resident corporate taxpayer on or after June 1, 2003, are exempted from Singapore tax subject to meeting the qualifying conditions.

A non-Singapore tax resident corporate taxpayer, subject to certain exceptions, is subject to Singapore income tax on income accrued in or derived from Singapore, and on foreign income received or deemed received in Singapore.

A company is regarded