Company: KNRX
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016175
Chunk: 84

Company: KNOREX LTD.
Filing Date: 2025-09-30
Form: 424B4
Chunk 84
---
                                 
 of up to the next S$290,000 of a company’s chargeable income (excluding Singapore franked dividends). |

It was announced in the 2018 Budget that with effect from the year of assessment 2020, the partial tax exemption scheme will be limited to the first S$200,000 (instead of S$300,000) of the normal chargeable income –75.0% of the first S$10,000 and 50.0% of the next S$190,000.

Goods and services tax

The Goods and Services Tax, or GST, in Singapore is a consumption tax that is levied on the import of goods into Singapore, as well as nearly all supplies of goods and services in Singapore at a prevailing rate of 9.0%. This rate was raised from 8.0% to 9.0% with effect from January 1, 2024.

| 44 |

Other Jurisdictions Where We Operate

Our
subsidiaries with operations in other jurisdictions including Vietnam, India, and Malaysia are insignificant to our operations for the
years ended December 31, 2024 and 2023.

Critical Accounting Estimates

We prepare our financial statements in accordance with U.S. GAAP, which requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenue and expenses during the reporting periods. We continually evaluate these judgments and estimates based on our own historical experience, knowledge and assessment of current business and other conditions, our expectations regarding the future based on available information and assumptions that we believe to be reasonable, which together form our basis for making judgments about matters that are not readily apparent from other sources. Since the use of estimates is an integral component of the financial reporting process, our actual results could differ from those estimates. We believe that the accounting estimates below are critical for one to fully understand and evaluate our financial condition and results of operations.

Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in our consolidated financial statements include lease classification and liabilities, right-of-use assets, determinations of the useful lives and valuation of long-lived assets, estimates of allowances for expected