Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 159

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 159
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 of any net mark-to-market gains previously included in income) and thereafter as capital loss. If, after
having been a PFIC for a taxable year, we cease to be classified as a PFIC because we no longer meet the PFIC income test or PFIC asset
test, the U. S. Holder would not be required to take into account any latent gain or loss in the manner described above, and any gain
or loss recognized on the sale or exchange of the Ordinary Shares would be classified as a capital gain or loss.

A mark-to-market election
is available to a U. S. Holder only for “marketable stock.” Generally, stock will be considered marketable stock if it is
“regularly traded” on a “qualified exchange” within the meaning of applicable U. S. Treasury regulations. A class
of stock is regularly traded during any calendar year during which such class of stock is traded, other than in de minimisquantities,
on at least 15 days during each calendar quarter.

Our Ordinary Shares
will be marketable stock as long as they remain listed on the Nasdaq Capital Market and are regularly traded. A mark-to-market election
will not apply to the Ordinary Shares for any taxable year during which we are not a PFIC, but it will remain in effect with respect
to any subsequent taxable year in which we become a PFIC. Such election will not apply to any of our non-U. S. subsidiaries. Accordingly,
a U. S. Holder may continue to be subject to tax under the PFIC excess distribution regime with respect to any lower-tier PFICs notwithstanding
the U. S. Holder’s mark-to-market election for the Ordinary Shares.

Our Company and all
distributions, interest, and other amounts paid by us in respect to our shares to persons who are not resident in the Cayman Islands
are exempt from all provisions of the Income Tax Ordinance in the Cayman Islands. No estate, inheritance, succession, or gift tax, rate,
duty, levy, or other charge is payable by persons who are not resident in the Cayman Islands with respect to any of our shares, debt
obligations, or other securities. All instruments relating to transactions in respect to our shares, debt obligations, or other securities
and all instruments relating to other transactions relating to our business are exempt from payment of stamp duty in the Cayman Islands,
except for those which hold interests in land in the Cayman Islands. There are currently no withholding taxes or