Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 282

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 282
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 result is nil due to offset of tax losses (French Administrative Supreme Court, October 18, 2022, n° 466329) for the fiscal year during which the dividend is received may be entitled to a deferral regime, and obtain a withholding tax refund. The tax deferral ends in respect of the first financial year during which this U. S. Holder is in a profit-making position, as well as in the cases set out in Article 235 quater of the FTC. The refund must be claimed within the same period applicable to claim related to taxes other than local taxes. Also, pursuant to Article 235 quinquies of the FTC and under certain conditions, a corporate U. S. Holder may be entitled to a refund of a fraction of the withholding tax, up to the difference between the withholding tax paid (on a gross basis) and the withholding tax based on the dividend net of the expenses incurred for the acquisition and conservation directly related to the income, provided (i) that these expenses would have been tax deductible had the U. S. Holder been established in France, and (ii) that the tax rules in the United States do not allow the U. S. Holder to offset the withholding tax.

Given the special features of the ADSs, U. S. Holders are advised to consult their own tax advisor about the possible application to ADSs of such provisions in light of their own circumstances.

Estate and Gift Taxes

In general, a transfer of securities by gift or by reason of death of a U. S. Holder that would otherwise be subject to French gift or inheritance tax, respectively, will not be subject to such French tax by reason of the double tax treaty entered into between the Government of the United States of America and the Government of the French Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Estates, Inheritances and Gifts, dated November 24, 1978 (as amended from time to time), unless (i) the donor or the transferor is domiciled in France at the time of making the gift or at the time of his or her death, or (ii) the securities were used in, or held for use in, the conduct of a business through a permanent establishment or a fixed base in France.

Real Estate Wealth Tax

As from January 1, 2018, the French wealth tax ( impôt de solidarité sur la fortune) is repealed and replaced by the French real estate wealth tax