Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 104

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 10
Chunk 104
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.

Liquidation.

Calls
on Shares and Forfeiture of Shares.

  66  

Redemption,
Repurchase and Surrender of Shares.

Variations
of Rights of Shares. pari
passu

Issuance
of Additional Shares.

Declaration
of Interest.

Compensation.

Borrowing
Powers.

Qualification
of directors.

Inspection
of Books and Records.

  67  

Exempted
Company.

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“ Limited
liability” means that the liability of each shareholder is limited to the amount unpaid by the shareholder on that shareholder’s
shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an
illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

MATERIAL
TAX CONSIDERATIONS

The
following summary of material Cayman Islands, Singapore and United States federal income tax consequences of an investment in our Ordinary
Shares is based upon laws and relevant interpretations thereof in effect as of the date of this Annual Report, all of which are subject
to change. This summary does not deal with all possible tax consequences relating to an investment in our Ordinary Shares, such as the
tax consequences under state, local, and other tax laws.

Cayman
Islands Taxation

The
Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, gains or appreciation, and there
is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to our Company levied
by the Government of the Cayman Islands save for certain stamp duties which may be applicable, from time to time, on certain instruments.

No
stamp duty is payable in the Cayman Islands on transfer of shares of Cayman Islands companies except for those which hold interests in
land in the Cayman Islands.

The
Cayman Islands enacted the International Tax Co-operation (Economic Substance) Act 2018 (as amended), or the Substance Act, together
with the Guidance Notes published by the Cayman Islands Tax Information Authority from time to time. Under the Substance Act, if a company
is considered to be a “relevant entity” and is conducting one or more of the nine “relevant activities” then
that company will be required to comply