Company: GVH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052766
Chunk: 109

Company: Globavend Holdings Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 109
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 held as working capital or raised in a public offering), marketable securities, and other assets that may produce
passive income. Generally, in determining whether a non-U.S. corporation is a PFIC, a proportionate share of the income and assets
of each corporation in which it owns, directly or indirectly, at least a 25% interest (by value) is taken into account.

Although PFIC status is determined
on an annual basis and generally cannot be determined until the end of a taxable year, based on the nature of our current and expected
income and the current and expected value and composition of our assets, we do not presently expect to be a PFIC for our current taxable
year or the foreseeable future. However, there can be no assurance given in this regard because the determination of whether we are or
will become a PFIC is a fact-intensive inquiry made on an annual basis that depends, in part, upon the composition of our income and assets.
In addition, there can be no assurance that the IRS will agree with our conclusion or that the IRS would not successfully challenge our
position.

If we are a PFIC in any taxable
year during which a U.S. Holder owns our Ordinary Shares, the U.S. Holder could be liable for additional taxes and interest
charges under the “PFIC excess distribution regime” upon (i) a distribution paid during a taxable year that is greater
than 125% of the average annual distributions paid in the three preceding taxable years, or, if shorter, the U.S. Holder’s
holding period for our Ordinary Shares; and (ii) any gain recognized on a sale, exchange, or other disposition, including a pledge,
of our Ordinary Shares, whether or not we continue to be a PFIC. Under the PFIC excess distribution regime, the tax on such distribution
or gain would be determined by allocating the distribution or gain ratably over the U.S. Holder’s holding period for our Ordinary
Shares. The amount allocated to the current taxable year (i.e., the year in which the distribution occurs or the gain is recognized) and
any year prior to the first taxable year in which we are a PFIC will be taxed as ordinary income earned in the current taxable year. The
amount allocated to other taxable years will be taxed at the highest marginal rates in effect for individuals or corporations, as
applicable, to ordinary income for each such taxable year, and an interest charge, generally applicable to underpayments of tax, will
be