Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 266

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 266
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 GST purposes in connection with the investor’s purchase, sale or holding of the Company’s Class A Ordinary Shares should be subject to GST at the standard rate of 9%. Similar services rendered by a GST -registeredperson contractually to and for the direct benefit of an investor belonging outside Singapore should generally, subject to the satisfaction of certain conditions, be subject to GST at 0%. With the implementation of reverse charge from January 1, 2020, the “directly benefit” condition for zero -rating(i.e. GST at 0%) will be amended to allow the zero -ratingof a supply of services to the extent that the services directly benefit a person belonging outside Singapore or a GST -registeredperson in Singapore. Under the reverse charge regime, a GST -registeredpartially exempt business that is not entitled to full input tax claims will be required to account for GST on all services that it procures from overseas suppliers (except for certain services which are specifically exempt from reverse charge). A non GST -registeredperson whose total value of imported services for a 12 -monthperiod exceeds S$1 million (either on a retrospective or prospective basis) and is not entitled to full input tax claims even if such person was GST -registeredmay become liable for GST registration and be required to account for GST both on its taxable supplies and imported services subject to reverse charge. Estate Duty Singapore estate duty has been abolished with respect to the estate of any person whose death has occurred on or after February 15, 2008. Tax Treaties Regarding Withholding Taxes There is currently no comprehensive avoidance of double taxation agreement between the United States and Singapore. 170 ENFORCEABILITY OF CIVIL LIABILITIES We are incorporated under the laws of the Cayman Islands as an exempted company with limited liability. We incorporated under the laws of the Cayman Islands because of certain benefits associated with being a Cayman Islands company, such as political and economic stability, an effective judicial system, a favorable tax system, the absence of foreign exchange control or currency restrictions, and the availability of professional and support services. The Cayman Islands, however, has a less developed body of securities laws as compared to the U.S. and provides significantly less protection for investors than the U.S. Additionally, Cayman Islands companies may not have standing to sue in the federal courts of the U.S. Most of our operations are conducted in Singapore and substantially all of our consolidated assets are located outside of the U.S. While we maintain an office in the U.S., and three of