Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 223

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 223
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 on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance tax shall be payable: |

| 2.1 | on or in respect of the shares, debentures 
 or other obligations of the Company;       |

OR

| 2.2 | by way of the withholding in whole                                                                   
 or part, of any relevant payment as defined in Section 6(3) of the Tax Concessions Act (As Revised). |

| 3. | These concessions shall be for               
 a period of 30 years from  23 December 2024. |

United States Federal Income Taxation

General

This discussion is limited to certain U.S. federal
income tax considerations to beneficial owners of our securities who are initial purchasers of a unit pursuant to this offering and hold
the unit and each component of the unit as capital assets within the meaning of Section 1221(a) of the U.S. Internal Revenue Code
of 1986, as amended (the “Code”) (generally, property held for investment). This discussion assumes that the ordinary shares
and rights will trade separately and that any distributions made (or deemed made) by us on the ordinary shares and any consideration
received (or deemed received) by a holder in consideration for the sale or other disposition of our securities will be in U.S. dollars.
This discussion is a summary only and does not consider all aspects of U.S. federal income taxation that may be relevant to the acquisition,
ownership and disposition of a unit by a prospective investor in light of its particular circumstances or that is subject to special
rules under the U.S. federal income tax laws, including, but not limited to:

| ● | our Sponsor, officers, directors or                                  
 other holders of our founder shares or private placement securities; |

| ● | banks and other financial institutions 
 or financial services entities;        |

| ● | broker-dealers; |

| ● | mutual funds; |

| ● | retirement plans, individual retirement  
 accounts or other tax-deferred accounts; |

| ● | taxpayers that are subject to the    
 mark-to-market tax accounting rules; |

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| ● | tax-exempt entities; |

| ● | S-corporations, partnerships or other        
 flow-through entities and investors therein; |

| ● | governments or agencies or instrumentalities 
 thereof;                                     |

| ● | insurance companies; |

| ● | regulated investment companies; |

| ● | real estate