Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 266

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 266
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 preceding taxable year) generally will be considered to be a qualified foreign corporation (a) if it is eligible for the benefits of a comprehensive tax treaty with the United States which the Secretary of Treasury of the United States determines is satisfactory for purposes of this provision and which includes an exchange of information provision, or (b) with respect to any dividend it pays on ADSs which are readily tradable on an established securities market in the United States. The ADSs are listed on the Nasdaq Global Select Market, which is an established securities market in the United States, and the Company believes the ADSs are readily tradable on the Nasdaq Global Select Market. There can be no assurance that the ADSs will continue to be considered readily tradable on an established securities market in the United States in later years. The Company, which is incorporated under the laws of France, believes that it qualifies as a resident of France for purposes of, and is eligible for the benefits of, the U. S.-France Tax Treaty (as defined below), although there can be no assurance in this regard. Further, the IRS has determined that the U. S.-France Tax Treaty is satisfactory for purposes of the qualified dividend rules and that it includes an exchange-of-information program. Therefore, subject to the discussion under “ - Passive Foreign Investment Company Considerations,” below, such dividends will generally be “qualified dividend income” in the hands of individual U. S. holders, provided that a holding period requirement (more than 60 days of ownership, without protection from the risk of loss, during the 121-day period beginning 60 days before the ex-dividend date) and certain other requirements are met. The dividends will not be eligible for the dividends-received deduction generally allowed to corporate U. S. holders.

Subject to applicable limitations and the Foreign Tax Credit Regulations (as defined below), a U. S. holder generally may claim the amount of any French withholding tax on a distribution not exceeding the rate provided by the U. S.-France Tax Treaty as either a deduction from gross income or a credit against its U. S. federal income tax liability. French taxes withheld in excess of the rate applicable with respect to such U. S. holder under the U. S.-France Tax Treaty will not be eligible for a credit against a U. S. holder’s federal income tax liability. U. S. holders should consult their tax advisors regarding the availability of foreign tax credits for any amounts withheld with respect to dividends on ADSs or ordinary shares.

The foreign tax credit is