Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 155

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 155
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 tax purposes. It is emphasized that neither the Company nor any other persons involved in this prospectus accepts responsibility for any tax consequences or liabilities resulting from the subscription for, purchase, holding or disposal of our shares.

Individual income tax

Individual taxpayers who are Singapore tax residents are subject to tax on income accruing in or derived from Singapore or received in Singapore from outside Singapore, unless specifically exempted. All foreign-sourced income (except for income received through a partnership in Singapore) received on or after January 1, 2004 in Singapore by tax resident individuals will be exempt from tax if the Singapore Comptroller of Income Tax is satisfied that the exemption will be beneficial to them. Certain Singapore-sourced investment income (such as interest from debt securities) derived by tax resident individuals on or after January 1, 2004 from certain financial instruments (other than income derived through a partnership in Singapore or from the carrying on of a trade, business or profession) will be exempt from tax.

A Singapore tax resident individual is taxed, after deduction of qualifying personal reliefs where applicable, at progressive rates ranging from (i) 0% to a maximum rate of 22.0%, with effect from the Year of Assessment 2017 to the Year of Assessment 2023; and (ii) 0% to a maximum rate of 24.0%, with effect from Year of Assessment 2024.

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Non-resident individuals, subject to certain exceptions, are generally subject to income tax on income accrued in or derived from Singapore at a flat rate of (i) 22.0%, with effect from Year of Assessment 2017 to the Year of Assessment 2023; and (ii) 24.0%, with effect from Year of Assessment 2024, except that Singapore employment income is taxed at 15.0% or at the progressive resident rates, whichever yields a higher tax. However, Singapore generally does not tax individuals on capital gains. A non-resident individual (other than a director of a company, or a public entertainer whose visits are not substantially supported from public funds of the government of another country) exercising a short-term employment in Singapore for not more than 60 days may be exempt from income tax in Singapore.

An individual is regarded as a tax resident in Singapore if in the year preceding the year of assessment, he or she resides in Singapore except for such temporary absences therefrom as may be reasonable and not inconsistent with a claim by such person to be resident in Singapore, and