Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 178

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 178
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 tax purposes; (ii) a corporation, or other
entity treated as a corporation for U. S. federal income tax purposes, created or organized in or under the laws of the United States (or
treated as such under applicable U. S. tax laws), any state thereof, or the District of Columbia; (iii) an estate the income of which is
subject to U. S. federal income tax regardless of its source; or (iv) a trust if (a) a U. S. court is able to exercise primary supervision
over the administration of the trust and one or more U. S. persons have the authority to control all substantial decisions of the trust,
or (b) it has a valid election in effect under applicable law and regulations to be treated as a U. S. person for U. S. federal income tax
purposes. A non-U. S. holder is a holder that is neither a U. S. holder nor a partnership or other entity classified as a partnership for
U. S. federal income tax purposes.

In the case of a partnership or entity classified
as a partnership for U. S. federal income tax purposes, the U. S. federal income tax treatment of a partner generally will depend on the
status of the partner and the activities of the partnership. Partners of partnerships should consult their tax advisors regarding the
U. S. federal income tax consequences to them of the merger or of the ownership and disposition of our shares.

As a result of consummation of the Share Exchange,
(i) we acquired substantially all the properties of KBS International, a U. S. corporation, and (ii) the former shareholders of KBS International
held at least 80 percent of our Common Stock by reason of having held stock of KBS International. Accordingly, under Section 7874 of the
Code, we are treated for U. S. federal tax purposes as a U. S. corporation and, among other consequences, are subject to U. S. federal income
tax on our worldwide income. This discussion assumes that Section 7874 of the Code continues to apply to treat us as a U. S. corporation
for all purposes under the Code. If, for some reason (e. g., future repeal of Section 7874 of the Code), we were no longer treated as a
U. S. corporation under the Code, the U. S. federal income tax consequences described herein could be materially and adversely affected.

U. S