Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 152

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 152
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 category income” basket. The foreign tax credit rules are complex and U. S. Holders should consult
their tax advisors concerning the availability of the foreign tax credit in their particular circumstances.

Dividends
paid in Canadian dollars will be included in the gross income of a U. S. Holder in a U. S. dollar amount calculated by reference to the
exchange rate in effect on the date the U. S. Holder (actually or constructively) receives the dividend, regardless of whether such Canadian
dollars are actually converted into U. S. dollars at that time. If the Canadian dollars received are not converted into U. S. dollars on
the date of receipt, a U. S. Holder will have a tax basis in the Canadian dollars equal to their U. S. dollar value on the date of receipt.
Gain or loss, if any, realized on a sale or other disposition of the Canadian dollars will generally be U. S. source ordinary income or
loss to a U. S. Holder.

The
Company generally does not pay any dividends and does not anticipate paying any dividends in the foreseeable future.

Sale,
Exchange or Other Taxable Disposition of Common Shares

Subject
to the PFIC rules discussed above, upon a sale, exchange or other taxable disposition of Common Shares, a U. S. Holder generally will
recognize capital gain or loss for U. S. federal income tax purposes equal to the difference, if any, between the amount realized on the
sale, exchange or other taxable disposition and the U. S. Holder’s adjusted tax basis in the Common Shares.

This
capital gain or loss will be long-term capital gain or loss if the U. S. Holder’s holding period in the Common Shares exceeds one
year. The deductibility of capital losses is subject to limitations. Any gain or loss will generally be U. S. source for U. S. foreign
tax credit purposes.

  102  

Information
Reporting and Backup Withholding

Payments
made within the U. S., or by a U. S. payor or U. S. middleman, of dividends on, and proceeds arising from sales or other dispositions of
Common Shares, generally will be reported to the IRS and to the U. S. Holder as required under applicable regulations. Backup withholding
tax may apply to these payments if the U. S. Holder fails to timely provide in the appropriate manner an accurate taxpayer identification
number or otherwise fails to comply with, or establish an exemption