Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 40

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 40
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E. Taxation

United States Taxation

The following summary describes the material United States federal income tax consequences of the ownership and disposition of our common shares and ADSs. The discussion set forth below is applicable only to U.S. Holders (as defined below) that hold the common shares or ADSs as capital assets. This summary does not represent a detailed description of the United States federal income tax consequences applicable to you if you are subject to special treatment under the United States federal income tax laws, including if you are:

·   a bank or other financial institution;
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·   a dealer in securities or currencies; 
·   a regulated investment company;       

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·                                                                                       a real estate investment trust;                                                                                    
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·   an insurance company;                                                                                                                                                                                  
·   a tax-exempt organization;                                                                                                                                                                             
·   a person holding the common shares or ADSs as part of a hedging, integrated or conversion transaction, constructive sale or straddle;                                                                  
·   a trader in securities that has elected the mark-to-market method of accounting for your securities;                                                                                                   
·   a person liable for alternative minimum tax;                                                                                                                                                           
·   a person who owns or is deemed to own 10% or more of our stock (by vote or value);                                                                                                                     
·   a person required to accelerate the recognition of any item of gross income with respect to the common shares or ADSs as a result of such income being recognized on an applicable financial statement;
·   a partnership or other pass–through entity for United States federal income tax purposes; or                                                                                                           
·   a person whose “functional currency” is not the U.S. dollar.                                                                                                                                           

Furthermore, the discussion below is based upon the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), and regulations, rulings and judicial decisions thereunder as of the date hereof, and such authorities may be repealed, revoked or modified (possibly on a retroactive basis) so as to result in United States federal income tax consequences different from those discussed below. This summary does not contain a detailed description of all the United States federal income tax consequences to you in light of your particular circumstances and does not address the Medicare tax on net investment income, United States federal estate and gift taxes or the effects of any state, local or non-United States tax laws. In addition, this summary assumes that the deposit agreement governing the ADSs, and all other related agreements, will be performed in accordance with their