Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 191

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 10
Chunk 191
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 our interest in, the lower-tier PFIC. Upon request, we will endeavor to cause any lower-tier PFIC to
provide to a U. S. Holder no later than 90 days after the request of information that may be required to make or maintain a QEF election
with respect to the lower-tier PFIC. However, there is no assurance that we will have timely knowledge of the status of any such lower-tier
PFIC or will be able to cause the lower-tier PFIC to provide the required information. U. S. Holders are urged to consult their own tax
advisors regarding the tax issues raised by lower-tier PFICs. If a U. S. Holder owns (or is deemed to own) shares during any year in a
PFIC, such holder may have to file an IRS Form 8621 (whether or not a QEF election or mark-to-market election is made). The rules dealing
with PFICs and with the QEF and mark-to-market elections are very complex and are affected by various factors in addition to those described
above. Accordingly, U. S. Holders of our Ordinary Shares should consult their own tax advisors concerning the application of the PFIC rules
to our Ordinary Shares under their particular circumstances.

Tax Consequences to Non-U. S. Holders of Ordinary
Shares

Dividends paid to a Non-U. S.
Holder in respect to its Ordinary Shares generally will not be subject to U. S. federal income tax, unless the dividends are effectively
connected with the Non-U. S. Holder’s conduct of a trade or business within the United States (and, if required by an applicable
income tax treaty, are attributable to a permanent establishment or fixed base that such holder maintains in the United States).

In addition, a Non-U. S. Holder
generally will not be subject to U. S. federal income tax on any gain attributable to a sale or other disposition of our Ordinary Shares,
unless such gain is effectively connected with its conduct of a trade or business in the United States (and, if required by an applicable
income tax treaty, is attributable to a permanent establishment or fixed base that such holder maintains in the United States) or the
Non-U. S. Holder is an individual who is present in the United States for 183 days or more in the taxable year of sale or other disposition
and certain other conditions are met (in which case, such gain from United States sources generally is subject to tax at a