Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 80

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 80
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 a final withholding tax on certain types of assessable income (e. g., interest, dividends,
royalties, rentals, and service fees) paid from or in Thailand. The rate of tax is generally 15%, except for dividends, which is 10%,
while other rates may apply under the provisions of a double tax treaty.

Cambodia

The standard rate of corporate
income tax for companies and permanent establishments in Cambodia who are classified as medium and large taxpayers is 20%. For companies
and permanent establishments who are classified as small taxpayers, the corporate income tax rates are progressive rates from 0% to 20%.
In view of the annual turnover of the company, which ranges from KHR1 billion to KHR6 billion for service and commercial sectors, the
company is considered a medium-sized company.

Kyrgyzstan

NewGenIvf is subject to a
corporate income tax on its aggregate annual income earned worldwide. Non-resident legal entities carrying out business activities through
a permanent establishment in Kyrgyzstan are subject to profit tax on the income attributed to the activities of that permanent establishments.
Profit tax for locally incorporated company is calculated at a rate of 10% of aggregate annual income less allowed deductions.

Results of Operations

                                                                                         For the Year ended                                  
                                                                                         December 31,                                        
                                                                                         2024                                                
  Revenues                                                                                                        5,433,375       5,136,153  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                         US$                                                 
  Cost of revenues                                                                                               (3,606,481      (3,454,368  
  Gross profit                                                                                                    1,826,894       1,681,785  
  Operating expenses                                                                                                                         
  Selling and marketing expenses                                                                                   (206,314         (18,030  
  General and administrative expenses                                                                            (2,651,075      (1,259,364  
  Auditor’s fees                                                                                                   (130,000        (362,149  
  Total operating expenses                                                                                       (2,987,389      (1,639,543  
  Operating (loss) income                                                                                        (1,160,495          42,242  
  Other income (expenses), net                                                                                                               
  Other income                                                                                                      971,391         111,837  
  Interest income                                                                                                     6,953             518  
  Interest expense                                                                                                 (778,656         (46,179  
  Total