Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 83

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 83
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 the excha...  

  The amount of the dividend will generally be treated as foreign-source dividend income for foreign tax credit purposes and will not be eligible for the dividends received deduction generally av...  

Table of Contents

Sale or Other Disposition of Ordinary Shares or ADSs

Subject to the PFIC rules described below, a U. S. Holder will be subject to the following tax consequences upon a disposition of ordinary shares or ADSs:

  The amount of the gain or loss will equal the difference (if any) between the U. S. Holder ’ s tax basis in the ordinary shares or ADSs disposed of and the amount realized on the disposition, i...  

  Gain or loss realized on the sale or other disposition of ordinary shares or ADSs will be capital gain or loss, and will be long-term capital gain (taxable at a reduced rate for a non-corporate...  

  Subject to certain exceptions, this gain or loss will be U. S.-source gain or loss for U. S. foreign tax credit purposes.  

  The deductibility of capital losses is subject to various limitations.  

Passive Foreign Investment Company Rules

Under the Code, we will be a PFIC for any taxable year in which, if, after the application of certain “look-through” rules with respect to our subsidiaries, either:

  75% or more of our gross income consists of “ passive income, ” or  

  50% or more of the average quarterly value of our assets consist of assets that produce, or are held for the production of, “ passive income. ”  
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For purposes of these tests, passive income includes dividends, interest, certain gains from the sale or exchange of investment property and certain rents and royalties. Cash, cash-equivalents and cryptocurrencies generally are passive assets for these purposes. Goodwill is active to the extent attributable to activities that produce or are intended to produce active income. In addition, for purposes of the above calculations, we will be treated as if we hold our proportionate share of the assets of, and receive directly our proportionate share of the income of, any other corporation in which we directly or indirectly own at least 25%, by value, of the shares. Based on our analysis of our activities and current estimates of the composition of our income and assets (including goodwill), we do not expect to be a PFIC for the current taxable year or in the foreseeable future