Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 101

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 101
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 by making a timely QEF election (or a QEF election along with a purging election), as described below. Pursuant to the QEF election,
a U. S. Holder will be required to include in income its pro rata share of our net capital gain (as long-term capital gain) and other
earnings and profits (as ordinary income), on a current basis, whether or not distributed, in the taxable year of the U. S. Holder in
which or with which our taxable year ends.

The
impact of the PFIC rules on a U. S. Holder of our Ordinary Shares will depend on whether the U. S. Holder has made a timely and effective
election to treat us as a QEF, for our first taxable year as a PFIC in which the U. S. Holder held (or was deemed to hold) Ordinary Shares,
or if the U. S. Holder made an effective QEF election along with a “purging election,” as discussed below. A U. S. Holder’s
ability to make an effective QEF election with respect to us is contingent upon, among other things, the provision by us of certain information
that would enable the U. S. Holder to make and maintain a QEF election. If we determine we are a PFIC for any taxable year, we will endeavor
to provide to a U. S. Holder upon request such information as the IRS may require, including a PFIC annual information statement, in order
to enable the U. S. Holder to make and maintain a QEF election. However, there is no assurance that we will have timely knowledge of our
status as a PFIC in the future or of the required information to be provided. A U. S. Holder of a PFIC that made a timely and effective
QEF election for our first taxable year as a PFIC in which the U. S. Holder held (or was deemed to hold) Ordinary Shares, or that made
a QEF election along with a purging election, as discussed below, is hereinafter referred to as an “ Electing Shareholder.”
A U. S. Holder that did not make a timely and effective QEF election for our first taxable year as a PFIC in which the U. S. Holder held
(or was deemed to hold) Ordinary Shares, or that did not make a QEF election along with a purging election, is hereinafter referred to
as a “ Non-Electing Share