Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 104

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 10
Chunk 104
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 ordinary shares. Your basis in
the ordinary shares will be adjusted to reflect any such income or loss amounts. If you make a valid mark-to-market election, the tax
rules that apply to distributions by corporations which are not PFICs would apply to distributions by us, except that the lower applicable
capital gains rate for qualified dividend income discussed above under “ - Taxation of Dividends and Other Distributions on
our ordinary shares” generally would not apply. The mark-to-market election is available only for “marketable stock”,
which is stock that is traded in other than de minimisquantities on at least 15 days during each calendar quarter (“regularly
traded”) on a qualified exchange or other market (as defined in applicable U. S. Treasury regulations). If the ordinary shares are
regularly traded on a qualified stock exchange or other market, and if you are a holder of ordinary shares, the mark-to-market election
would be available to you were we to be or become a PFIC.

Alternatively, a U. S. Holder of stock in a PFIC
may make a “qualified electing fund” election with respect to such PFIC to elect out of the tax treatment discussed above.
A U. S. Holder who makes a valid qualified electing fund election with respect to a PFIC will generally include in gross income for a taxable
year such holder’s pro rata share of the corporation’s earnings and profits for the taxable year. However, the qualified
electing fund election is available only if such PFIC provides such U. S. Holder with certain information regarding its earnings and profits
as required under applicable U. S. Treasury regulations. We do not currently intend to prepare or provide the information that would enable
you to make a qualified electing fund election. If you hold ordinary shares in any taxable year in which we are a PFIC, you will be required
to file IRS Form 8621 in each such year and provide certain annual information regarding such ordinary shares, including regarding distributions
received on the ordinary shares and any gain realized on the disposition of the ordinary shares.

If you do not make a timely “mark-to-market”
election (as described above), and if we were a PFIC at any time during the period you hold our ordinary shares, then such ordinary shares
will continue to be treated as stock of a PFIC with respect to you even if we cease to be a PFIC in a future year, unless you make a “purging
election