Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 99

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 99
---
. Under these rules,

  the U. S. Holder’s gain or excess distribution will be allocated ratably over the U. S. Holder’s holding period for the Ordinary Shares;                                                              
  the amount allocated to the current taxable year and any taxable years in the U. S. Holder’s holding period prior to the first taxable year in which we are classified as a PFIC (each, a “pre-PF...  
  the amount allocated to each prior taxable year, other than a pre-PFIC year, will be subject to tax at the highest tax rate in effect for individuals or corporations, as appropriate, for that y...  
  an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each prior taxable year, other than a pre-PFIC ...  

If
we are treated as a PFIC for any taxable year during which a U. S. Holder holds our Ordinary Shares, or if any of our subsidiaries is
also a PFIC, such U. S. Holder would be treated as owning a proportionate amount (by value) of the shares of any lower-tier PFICs for
purposes of the application of these rules. U. S. Holders are urged to consult their tax advisors regarding the application of the PFIC
rules to any of our subsidiaries.

As
an alternative to the foregoing rules, a U. S. Holder of “marketable stock” in a PFIC may make a mark-to-market election with
respect to such stock, provided that such stock is “regularly traded” within the meaning of applicable U. S. Treasury regulations.
If our Ordinary Shares qualify as being regularly traded, and an election is made, the U. S. Holder will generally (i) include as ordinary
income for each taxable year that we are a PFIC the excess, if any, of the fair market value of Ordinary Shares held at the end of the
taxable year over the adjusted tax basis of such Ordinary Shares and (ii) deduct as an ordinary loss the excess, if any, of the adjusted
tax basis of the Ordinary Shares over the fair market value of such Ordinary Shares held at the end of the taxable year, but such deduction
will only be allowed to the extent of the amount previously included in income as a result of the mark-to-market election. The U. S. Holder’s
adjusted tax basis in the Ordinary Shares would be adjusted to reflect any income or loss resulting from