Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 279

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 279
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 French tax authorities on this point, transfer of ADSs should remain outside of the scope of the aforementioned 0.1% registration duties. U. S. Holders are urged to consult their own tax advisor about the possible application of the registration duty upon the transfer of ADSs.

Taxation of Dividends

Dividends paid by a French corporation to non-residents of France are generally subject to French withholding tax at a rate of (i) 25% for payment benefiting legal persons who are beneficial owners and are not French tax residents (and 15% for distributions made to not-for-profit organizations with a head office in a Member State of the European Economic Area that would be subject to the tax regime set forth under Article 206 paragraph 2 of the FTC if its head office were located in France and that meet the criteria set forth in the tax guidelines BOI-RPPM-RCM-30-30-10-70-24/12/2019, No. 130, dated December 24, 2019), and (ii) 12.8% for payment benefiting individuals who are beneficial owners and are not French tax residents. Dividends paid by a French corporation in certain non-cooperative States or territories, as defined in Article 238-0 A of the FTC, will generally be subject to French withholding tax at a rate of 75%, irrespective of the tax residence of the beneficiary of the dividends if the dividends are received in such States or territories. However, eligible U. S. Holders entitled to Treaty benefits under the “ Limitation on Benefits” provision contained in the U. S.-France Tax Treaty who are U. S. residents, as defined pursuant to the provisions of the U. S.-France Tax Treaty, will not be subject to this 25% or 75% withholding tax rate, but may be subject to the withholding tax at a reduced rate (as described below).

Under the U. S.-France Tax Treaty, the rate of French withholding tax on dividends paid to an eligible U. S. Holder who is a U. S. resident as defined pursuant to the provisions of the U. S.-France Tax Treaty and whose ownership of the ordinary shares or ADSs is not effectively connected with a permanent establishment or fixed base that such U. S. Holder has in France, is generally reduced to 15%, or to 5% if such U. S. Holder is a corporation and owns directly or indirectly at least 10% of the share capital