Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 268

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 268
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 S. dollars on the day they are received, a U. S. holder should not be required to recognize foreign currency gain or loss in respect of the dividend.

Sale, Exchange or Other Taxable Disposition. A U. S. holder will generally recognize gain or loss for U. S. federal income tax purposes upon the sale, exchange or other taxable disposition of the ordinary shares or ADSs in an amount equal to the difference between the amount realized from such sale or exchange and the U. S. holder’s adjusted tax basis in those ordinary shares or ADSs, each as determined in U. S. dollars. U. S. holders should consult their own tax advisors about how to account for proceeds received on the sale, exchange or other taxable disposition of ordinary shares or ADSs that are not paid in U. S. dollars. Subject to the discussion under “ - Passive Foreign Investment Company Considerations” below, this gain or loss will generally be a capital gain or loss. The adjusted tax basis in the ordinary shares or ADSs generally will be equal to the U. S. dollar cost of such ordinary shares or ADSs. Capital gain from the sale, exchange or other taxable disposition of the ordinary shares or ADSs by a non-corporate U. S. holder is generally eligible for a preferential rate of taxation applicable to capital gains, if the non-corporate U. S. holder’s holding period determined at the time of such sale, exchange or other taxable disposition for such ordinary shares or ADSs exceeds one year (i. e., such gain is long-term taxable gain). The deductibility of capital losses for U. S. federal income tax purposes is subject to limitations. Any such gain or loss that a U. S. holder recognizes generally will be treated as U. S. source gain or loss for foreign tax credit limitation purposes.

Passive Foreign Investment Company Considerations. If the Company is a PFIC in any taxable year, a U. S. holder will be subject to special rules generally intended to reduce or eliminate any benefits from the deferral of U. S. federal income tax that a U. S. holder could derive from investing in a non-U. S. company that does not distribute all of its earnings on a current basis.

The Company will be a PFIC for U. S. federal income tax purposes in any taxable year in which, after applying certain look-through rules with respect to the income and assets of its subsidiaries, either: (1) at least 75% of the