Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 56

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 56
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that the IRS or a court of

law could determine that we are a PFIC.

Moreover, no assurance can be

given that we

would not constitute

a PFIC for any

future taxable year

if the

nature and extent of our operations changed.

If the

IRS or

a court

of law

were to

find that

we are

or have

been a

PFIC for

any taxable

year,

our U. S.

shareholders would

face adverse

U. S. federal

income tax

consequences. Under

the PFIC

rules, unless

those shareholders make

an election available

under the Code

(which election could

itself have adverse

consequences for such shareholders),

such shareholders would

be subject to

U. S. federal income

tax at

the then

prevailing U. S.

federal income

tax rates

on ordinary

income plus

interest upon

excess distributions

and upon any gain

from the disposition of

our common stock,

as if the excess

distribution or gain

had been

recognized ratably

over the

shareholder's holding

period of

our common

stock. See

“ Item 10.

Additional

Information - E.

Taxation - United

States

Ta

xation

of

U. S.

Holders - PFIC

Status

and

Significant

Tax

Consequences" for

a more

comprehensive discussion

of the

U. S. federal

income tax

consequences to

U. S.

holders of our common stock if we are or were to be treated as a PFIC.

Changes in tax

laws and unanticipated

tax liabilities could

materially and adversely

affect the taxes

we pay, results of operations and financial results.

Our results

of operations

and financial

results may

be affected by

tax and

other initiatives

around the

world.

For instance, there

is a high

level of uncertainty

in today’s tax

environment stemming from

global initiatives

put

forth

by

the

Organisation

for

Economic

Co-operation

and

Development’s

(“ OECD”)

two-pillar

base

erosion and profit

shifting project. In

October 2021, members

of the OECD

put forth two

proposals: (i)

Pillar

One reallocates profit to the

market jurisdictions where sales

ar