Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 170

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 170
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        $2,601,939  

The weighted-average remaining lease term and the weighted-average
discount rate of leases are as follows:

  Weighted-average remaining lease term                        1.97 years                        3.33 years  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                             December 31,                      December 31,                  
  Weighted-average discount rate                                      3.6                              4.75  

F-27

The following table summarizes the maturity of operating lease liabilities
as of December 31, 2024:

  12 months ending December 31,                 
 ────────────────────────────────────────────────
  2025                                 767,735  
  2026                                 750,548  
  2027                                 716,175  
  2028                                 110,428  
  Total lease payments               2,344,886  
  Less: imputed interest             ( 122,370  
  Total lease liabilities            2,222,516  

Note 15 - Taxes

Corporation Income Tax (“ CIT”)

The Company is subject to income taxes on an entity
basis on income derived from the location in which each entity is domiciled.

Jowell Global is incorporated in the Cayman Islands
as an offshore holding company and is not subject to tax on income or capital gain under the laws of the Cayman Islands.

Jowell Tech is incorporated in Hong Kong as a
holding company with no activities. Under Hong Kong’s two-tier tax rates regime, the first 2 million Hong Kong Dollar (“ HKD”)
of profits will be taxed at 8.25%, and the profits above HKD2 million will be taxed at 16.5%. Jowell Tech is not subject to income tax
for 2024, 2023 and 2022 because it had no activities within the three years.

Under the Enterprise Income Tax (“ EIT”)
Law of PRC, domestic enterprises and Foreign Investment Enterprises (the “ FIE”) are usually subject to a unified25% enterprise
income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. Each of Shanghai
Jowell and Shanghai Juhao is subject to income tax at unified rate of25%.

The income taxes expense (benefit) consists of the following:

                                               For the years ended December 31,                                                               
                                               2024                                               2023                   2022