Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 105

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 10
Chunk 105
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” for the year we cease to be a PFIC. A “purging election” creates a deemed sale of such ordinary shares at
their fair market value on the last day of the last year in which we are treated as a PFIC. The gain recognized by the purging election
will be subject to the special tax and interest charge rules treating the gain as an excess distribution, as described above. As a result
of the purging election, you will have a new basis (equal to the fair market value of the ordinary shares on the last day of the last
year in which we are treated as a PFIC) and holding period (which new holding period will begin the day after such last day) in your ordinary
shares for tax purposes.

You are urged to consult your tax advisors regarding
the application of the PFIC rules to your investment in our ordinary shares and the elections discussed above.

Information Reporting and Backup Withholding

Dividend payments with respect to our ordinary
shares and proceeds from the sale, exchange or redemption of our ordinary shares may be subject to information reporting to the IRS and
possible U. S. backup withholding. Backup withholding will not apply, however, to a U. S. Holder who furnishes a correct taxpayer identification
number and makes any other required certification on IRS Form W-9 or who is otherwise exempt from backup withholding. U. S. Holders who
are required to establish their exempt status generally must provide such certification on IRS Form W-9. U. S. Holders are urged to consult
their tax advisors regarding the application of the U. S. information reporting and backup withholding rules.

Backup withholding is not an additional tax. Amounts
withheld as backup withholding may be credited against your U. S. federal income tax liability, and you may obtain a refund of any excess
amounts withheld under the backup withholding rules by filing the appropriate claim for refund with the IRS and furnishing any required
information. We do not intend to withhold taxes for individual shareholders. However, transactions effected through certain brokers or
other intermediaries may be subject to withholding taxes (including backup withholding), and such brokers or intermediaries may be required
by law to withhold such taxes.

Under the Hiring Incentives to Restore Employment
Act of 2010, certain U. S. Holders are required to report information relating to our ordinary shares, subject to certain exceptions (including
an exception for ordinary shares held in accounts maintained by certain financial institutions), by attaching a complete IRS