Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 149

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 10
Chunk 149
---
 Taxation of Non-U. S. Holders

As used herein, the term “ Non-U. S. Holder” means a holder that, for U. S. federal income tax purposes, is a beneficial owner of common shares (other than a partnership) that is not a U. S. Holder.

If a partnership holds our common shares, the tax treatment of a partner will generally depend upon the status of the partner and upon the activities of the partnership. If you are a partner in a partnership holding our common shares, you are encouraged to consult your tax advisor.

Dividends on Common Shares

A Non-U. S. Holder generally will not be subject to U. S. federal income or withholding tax on dividends received from us with respect to our common shares, unless that income is effectively connected with the Non-U. S. Holder’s conduct of a trade or business in the United States.

Sale, Exchange or Other Disposition of Common Shares

A Non-U. S. Holder generally will not be subject to U. S. federal income or withholding tax on any gain realized upon the sale, exchange or other disposition of our common shares, unless:

  the gain is effectively connected with the Non-U. S. Holder’s conduct of a trade or business in the U. S.; or  

  the Non-U. S. Holder is an individual who is present in the U. S. for 183 days or more during the taxable year of disposition and other conditions are met.  

Income or Gains Effectively Connected with a U. S. Trade or Business

If the Non-U. S. Holder is engaged in a U. S. trade or business for U. S. federal income tax purposes, dividends on the common shares and gain from the sale, exchange or other disposition of the shares, that is effectively connected with the conduct of that trade or business (and, if required by an applicable income tax treaty, is attributable to a U. S. permanent establishment), will generally be subject to regular U. S. federal income tax in the same manner as discussed in the previous section relating to the taxation of U. S. Holders. In addition, in the case of a corporate Non-U. S. Holder, its earnings and profits that are attributable to the effectively connected income, which are subject to certain adjustments, may be subject to an additional branch profits tax at a rate of 30%, or at a lower rate as may be specified by an applicable U. S. income tax treaty.

Table of