Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 126

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 126
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 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (“ TRAIN”) took effect. TRAIN repealed certain provisions of Republic Act No. 8024, or the National Internal Revenue Code of 1997. The TRAIN Law is a consolidation of House Bill No. 5636 and Senate Bill No. 1592 that were passed by the House of Representatives and the Senate after the approval of the bicameral conference committee report. It amended several provisions of the Tax Code of the Philippines including income tax of individuals, capital gains tax on the sale and disposition of shares of stock, estate tax, donor’s tax, and documentary stamp tax. On 26 March 2021, President Rodrigo Duterte signed Republic Act No. 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (“ CREATE Act”). It amended several provisions of the Tax Code of the Philippines; in particular, lowering corporate income tax rates and rationalizing fiscal incentives. Primarily, the CREATE Act reduced the regular corporate income tax rate for both domestic and foreign corporations from thirty percent (30%) to twenty five percent (25%). Depending on the net taxable income and total assets of a domestic corporation, the regular corporate income tax rate may be further reduced to twenty percent (20%). 87

Personal Income Tax in the Philippines Resident citizens of the Philippines are taxed on their worldwide income; while non -residentcitizens and aliens, whether resident or not, are taxed only on income from sources within the Philippines. Pursuant to the TRAIN Act and effective January 1, 2023, the personal income tax rates are as follows:

| Range of Annual Taxable Income                      |     | Tax Due                                                    |
| Not over PhP 250,000.00                             |     | Exempted from Personal Income Tax                          |
| Over PhP 250,000 but not over PhP 400,000.00        |     | 15% of the excess over PhP 250,000.00                      |
| Over PhP 400,000.00 but not over PhP 800,000.00     |     | PhP 22,500.00 + 20% of the excess over PhP 400,000.00      |
| Over PhP 800,000.00 but not over PhP 2,000,000.00   |     | PhP 102,500.00 + 25% of the excess over PhP 800,000.00     |