Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 90

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 10
Chunk 90
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. S. Holder in which the U. S. Holder holds (or is deemed to hold) our ordinary
shares and for which we are determined to be a PFIC, such holder generally will not be subject to the PFIC rules described above in respect
to its ordinary shares as long as such shares continue to be treated as marketable shares. Instead, in general, the U. S. Holder will
include as ordinary income for each year that we are treated as a PFIC the excess, if any, of the fair market value of its ordinary shares
at the end of its taxable year over the adjusted basis in its ordinary shares. The U. S. Holder also will be allowed to take an ordinary
loss in respect of the excess, if any, of the adjusted basis of its ordinary shares over the fair market value of its ordinary shares
at the end of its taxable year (but only to the extent of the net amount of previously included income as a result of the mark-to-market
election). The U. S. Holder’s adjusted tax basis in its ordinary shares will be adjusted to reflect any such income or loss amounts,
and any further gain recognized on a sale or other taxable disposition of the ordinary shares in a taxable year in which we are treated
as a PFIC will be treated as ordinary income. Special tax rules may also apply if a U. S. Holder makes a mark-to-market election for a
taxable year after the first taxable year in which the U. S. Holder holds (or is deemed to hold) its ordinary shares and for which we
are treated as a PFIC. Currently, a mark-to-market election may not be made with respect to our warrants.

The
mark-to-market election is available only for stock that is regularly traded on a national securities exchange that is registered with
the Securities and Exchange Commission, including the Nasdaq Global Market, or on a foreign exchange or market that the IRS determines
has rules sufficient to ensure that the market price represents a legitimate and sound fair market value. U. S. Holders should consult
their own tax advisors regarding the availability and tax consequences of a mark-to-market election in respect to our ordinary shares
under their particular circumstances.

If
we are a PFIC and, at any time, have a foreign subsidiary that is classified as a PFIC, U. S. Holders of our shares generally would be
deemed to own a portion of the shares of such lower-tier PFIC, and generally could incur liability for