Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 97

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 10
Chunk 97
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 such withholding, but only for a year
in which such U. S. Holder elects to do so for all creditable foreign income taxes. The rules governing the foreign tax credit are complex
and their outcome depends in large part on the U. S. Holder’s individual facts and circumstances. Accordingly, U. S. Holders are
urged to consult their tax advisors regarding the availability of the foreign tax credit under their particular circumstances.

Taxation
of Sale or Other Disposition of Ordinary Shares

Subject
to the discussion below under “ Passive Foreign Investment Company Rules,” a U. S. Holder will generally recognize capital
gain or loss upon the sale or other disposition of Ordinary Shares in an amount equal to the difference between the amount realized upon
the disposition and the U. S. Holder’s adjusted tax basis in such Ordinary Shares. Any capital gain or loss will be long term if
the Ordinary Shares have been held for more than one year and will generally be U. S.-source gain or loss for U. S. foreign tax credit
purposes. Long-term capital gains of non-corporate taxpayers are currently eligible for reduced rates of taxation. In the event that
gain from the disposition of the Ordinary Shares is subject to tax in the UK, such gain may be treated as UK-source gain under the United
States-UK income tax treaty. The deductibility of a capital loss may be subject to limitations. U. S. Holders are urged to consult their
tax advisors regarding the tax consequences if a foreign tax is imposed on a disposition of our Ordinary Shares, including the availability
of the foreign tax credit under their particular circumstances.

Passive
Foreign Investment Company Rules

A
non-U. S. corporation, such as our company, will be classified as a PFIC, for U. S. federal income tax purposes for any taxable year, if
either (i) 75% or more of its gross income for such year consists of certain types of “passive” income or (ii) 50% or more
of the value of its assets (determined on the basis of a quarterly average) during such year is attributable to assets that produce or
are held for the production of passive income. For this purpose, cash and cash equivalents are categorized as passive assets and the
company’s goodwill and other unbooked intangibles are taken into account as non-passive assets. Passive income generally includes,
among other things, dividends, interest, rents, royalties, and gains from