Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 179

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 179
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 the
business carried on in Thailand. The corporate income tax (CIT) rate is20%. A foreign company not carrying on business in Thailand is
subject to a final withholding tax (WHT) 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 generally15%, except for dividends, which is10%, while other rates may apply under
the provisions of a double tax treaty (DTT).

Cambodia

The standard rate of corporate
income tax (“ CIT”) for companies and permanent establishments who are classified as medium and large taxpayers is20%. For
companies and permanent establishments who are classified as small taxpayers, the CIT rates are progressive rates from0% to20%. In view
of the annual turnover of the company, the annual turnover ranges from KHR1billion toKHR6billion for service and commercial
sectors, the company shall consider as the medium-sized company.

Kyrgyzstan

The company is subject to
a corporate income tax on their 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. During the year, excess tax payable of $486,706were deemed to be no longer payable and reversed accordingly.

Profit tax is calculated
at a rate of10% of aggregate annual income less allowed deductions.

Significant components of
the provisions for income taxes for the year ended December 31, 2024, and 2023 were as follows:

                                                      December 31,                           
                                                      2024                             2023  
  Current tax provision Kyrgyzstan                    $                 —              $     
  Over provision of tax in prior year Kyrgyzstan                        ( 486,706            
  Current tax provision Cambodia                                        —                    
 ─────────────────────────────────────────────────────────────────────────────────────────────
  Total tax (income) expense                          $                 ( 486,706      $     

                                                       December 31,                                                                  
                                                       2024                             2023                    2022                 
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  (Loss) Income before taxes                           $                 ( 960,807      $         108,418       $           343,988  
  Tax credit (expense) at the effective tax rates                        ( 179,863