Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 119

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 119
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; whether the assets of the relevant offshore enterprise mainly consist of direct or indirect investment in China or if its income mainly derives from China; whether the offshore enterprise and its subsidiaries directly or indirectly holding PRC taxable assets have real commercial nature which is evidenced by their actual function and risk exposure; the duration of existence of the business model and organizational structure; the replicability of the transaction by direct transfer of PRC taxable assets; and the tax situation of such indirect transfer and applicable tax treaties or similar arrangements. In respect of an indirect offshore transfer of assets of a PRC establishment, the resulting gain is to be included with the enterprise income tax filing of the PRC establishment or place of business being transferred, and would consequently be subject to PRC enterprise income tax at a rate of 25%. Where the underlying transfer relates to the immovable properties located in China or to equity investments in a PRC resident enterprise, which is not related to a PRC establishment or place of business of a non-resident enterprise, a PRC enterprise income tax of 10% would apply, subject to available preferential tax treatment under applicable tax treaties or similar arrangements, and the party who is obligated to make the transfer payments has the withholding obligation. SAT Bulletin 7 does not apply to transactions of sale of shares by investors through a public stock exchange where such shares were acquired from a transaction through a public stock exchange.

VIWO faces uncertainties as to the reporting and other implications of certain past and future transactions where PRC taxable assets are involved, such as offshore restructuring, sale of the shares in VIWO’s offshore subsidiaries or investments. VIWO may be subject to filing obligations or taxed if VIWO is transferor in such transactions, and may be subject to withholding obligations if VIWO is transferee in such transactions under SAT Bulletin 7. For transfer of shares in VIWO by investors that are non-PRC resident enterprises, VIWO’s PRC subsidiaries may be requested to assist in the filing under SAT Bulletin 7. As a result, VIWO may be required to expend valuable resources to comply with SAT Bulletin 7 or to request the relevant transferors from whom VIWO purchase taxable assets to comply with these circulars, or to establish that VIWO should not be taxed under these circulars, which may have a material adverse effect on VIWO’s financial condition and results of operations.

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Certain judgments obtained against VIWO by its shareholders may not be enforceable.

VIWO is a Cayman Islands exempted company and