Company: EGG
Filing Date: 2025-03-28
Form Type: F-1
Source: 0001641172-25-001072
Chunk: 161

Company: ENIGMATIG LTD
Filing Date: 2025-03-28
Form: F-1
Chunk 161
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 Singapore estate duty has been abolished.

Individuals, whether or not domiciled in Singapore, should consult their own tax advisors regarding the Singapore tax and estate duty consequences of their ownership of our Class A ordinary shares.

Others

The Singapore Parliament had on October 15, 2024 passed the Multinational Enterprise (Minimum Tax) Bill of Singapore, which introduced the Multinational Enterprise (Minimum Tax) Act 2024 of Singapore, or the MEMTA. The MEMTA had come into operation on January 1, 2025.

Subject to the fulfilment of certain conditions, the MEMTA applies to groups which have at least one entity or permanent establishment that is not located in the jurisdiction of the ultimate parent entity (each, an “MNE group”).

Under the MEMTA, for the financial year beginning on or after 1 January 2025 and subject to the relevant MNE group’s effective tax rate, (a) a multinational enterprise top-up tax, or MTT, will be imposed on amongst others an ultimate parent entity of an MNE group which is located in Singapore, and (b) a domestic top-up tax, or DTT, will be payable in respect of an MNE group if amongst others at least one of its group entities is located in Singapore.

Shareholders, whether or not domiciled in Singapore, should consult their own tax advisors regarding the Singapore tax consequences of their acquisition, ownership and/or disposal of our Class A ordinary shares.

Hong Kong Taxation

Under the Inland Revenue
Ordinance (Chapter 112 of the Laws of Hong Kong) (the “IRO”), where an employer commences to employ in Hong Kong an individual
who is or is likely to be chargeable to tax, or any married person, the employer shall give a written notice to the Commissioner of Inland
Revenue not later than three months after the date of commencement of such employment. Where an employer ceases or is about to cease
to employ in Hong Kong an individual who is or is likely to be chargeable to tax, or any married person, the employer shall give a written
notice to the Commissioner of Inland Revenue not later than one month before such individual ceases to be employed in Hong Kong.

The IRO provides, among
other things, that profits tax shall be charged on every person carrying on a trade, profession or business in Hong Kong in respect of
his or her assessable profits arising in or derived from Hong Kong at the standard rate, which stood at 8.25